State of New Jersey Common Pension Fund D Reduces Stock Position in The New York Times Company (NYSE:NYT)

State of New Jersey Common Pension Fund D trimmed its position in The New York Times Company (NYSE:NYT) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,657 shares of the company’s stock after selling 2,421 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in New York Times were worth $3,043,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NYT. Oak Family Advisors LLC lifted its stake in New York Times by 2.2% during the 2nd quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock valued at $547,000 after acquiring an additional 231 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in New York Times by 2.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock valued at $608,000 after purchasing an additional 247 shares during the last quarter. Hixon Zuercher LLC grew its position in New York Times by 2.9% during the 3rd quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock worth $696,000 after purchasing an additional 354 shares during the period. UMB Bank n.a. raised its stake in shares of New York Times by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the last quarter. Finally, Capital Investment Counsel Inc lifted its holdings in shares of New York Times by 1.7% in the 2nd quarter. Capital Investment Counsel Inc now owns 22,701 shares of the company’s stock valued at $1,163,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Trading Up 0.6 %

Shares of NYT opened at $55.18 on Wednesday. The firm has a market cap of $9.06 billion, a P/E ratio of 32.47 and a beta of 1.02. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $57.08. The stock’s 50 day moving average is $54.81 and its two-hundred day moving average is $52.50.

New York Times (NYSE:NYT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 17.75%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. Equities research analysts forecast that The New York Times Company will post 1.85 EPS for the current year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.94%. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Analyst Ratings Changes

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays raised their price objective on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.83.

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.