The New York Times Company (NYSE:NYT) Shares Bought by AIA Group Ltd

AIA Group Ltd lifted its position in shares of The New York Times Company (NYSE:NYT) by 11.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 90,535 shares of the company’s stock after acquiring an additional 9,524 shares during the period. AIA Group Ltd owned about 0.06% of New York Times worth $5,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Texas Permanent School Fund Corp raised its holdings in shares of New York Times by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 143,204 shares of the company’s stock worth $6,189,000 after purchasing an additional 1,854 shares during the period. Duality Advisers LP acquired a new stake in New York Times during the first quarter worth about $983,000. Quantbot Technologies LP bought a new position in New York Times in the first quarter worth about $2,293,000. Swiss National Bank boosted its stake in New York Times by 0.3% in the first quarter. Swiss National Bank now owns 307,000 shares of the company’s stock valued at $13,269,000 after acquiring an additional 800 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of New York Times during the first quarter valued at approximately $2,740,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the transaction, the chief executive officer now owns 101,772 shares of the company’s stock, valued at $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on NYT shares. JPMorgan Chase & Co. raised their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday. Barclays raised their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.43.

New York Times Stock Performance

Shares of NYT opened at $55.80 on Friday. The New York Times Company has a one year low of $41.55 and a one year high of $57.08. The stock’s fifty day moving average is $54.79 and its 200-day moving average is $52.20. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 33.01 and a beta of 1.02.

New York Times (NYSE:NYT) last released its earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. The firm had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.95%. New York Times’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. Analysts forecast that The New York Times Company will post 1.83 EPS for the current fiscal year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Wednesday, October 9th. New York Times’s payout ratio is currently 30.77%.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.