Rhumbline Advisers Acquires 168,817 Shares of New York Times Co (NYT)

Rhumbline Advisers raised its holdings in New York Times Co (NYSE:NYT) by 66.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 422,736 shares of the company’s stock after acquiring an additional 168,817 shares during the quarter. Rhumbline Advisers’ holdings in New York Times were worth $9,423,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NYT. FMR LLC boosted its position in New York Times by 1,576.2% in the 2nd quarter. FMR LLC now owns 4,715,899 shares of the company’s stock valued at $122,142,000 after buying an additional 4,434,550 shares during the period. United Services Automobile Association boosted its position in New York Times by 12.3% in the 2nd quarter. United Services Automobile Association now owns 28,049 shares of the company’s stock valued at $726,000 after buying an additional 3,062 shares during the period. Texas Permanent School Fund boosted its position in New York Times by 7.5% in the 3rd quarter. Texas Permanent School Fund now owns 88,789 shares of the company’s stock valued at $2,055,000 after buying an additional 6,193 shares during the period. Retirement Systems of Alabama boosted its position in New York Times by 10.0% in the 3rd quarter. Retirement Systems of Alabama now owns 182,239 shares of the company’s stock valued at $4,219,000 after buying an additional 16,527 shares during the period. Finally, State Treasurer State of Michigan boosted its position in New York Times by 10.8% in the 3rd quarter. State Treasurer State of Michigan now owns 52,200 shares of the company’s stock valued at $1,208,000 after buying an additional 5,100 shares during the period. 92.22% of the stock is owned by institutional investors.

In related news, SVP R Anthony Benten sold 14,700 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $31.34, for a total value of $460,698.00. Following the completion of the sale, the senior vice president now directly owns 54,606 shares of the company’s stock, valued at $1,711,352.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arthur Sulzberger, Jr. sold 45,000 shares of the business’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $31.20, for a total transaction of $1,404,000.00. Following the completion of the sale, the director now directly owns 324,024 shares of the company’s stock, valued at $10,109,548.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,280 shares of company stock valued at $2,225,183. Corporate insiders own 5.20% of the company’s stock.

Several brokerages have commented on NYT. Barclays cut shares of New York Times from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $20.00 to $18.00 in a research report on Tuesday, November 6th. They noted that the move was a valuation call. Zacks Investment Research reissued a “hold” rating on shares of New York Times in a research report on Wednesday, November 14th. ValuEngine cut shares of New York Times from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Finally, Evercore ISI began coverage on shares of New York Times in a research report on Thursday, December 13th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $25.33.

New York Times stock opened at $32.03 on Friday. The firm has a market cap of $5.28 billion, a PE ratio of 39.54 and a beta of 1.24. New York Times Co has a 12-month low of $21.34 and a 12-month high of $32.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.94 and a quick ratio of 1.94.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, February 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The business had revenue of $502.70 million during the quarter, compared to analysts’ expectations of $479.57 million. New York Times had a net margin of 7.19% and a return on equity of 13.82%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 EPS. As a group, sell-side analysts forecast that New York Times Co will post 0.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 3rd will be given a dividend of $0.05 per share. This is a boost from New York Times’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, April 2nd. New York Times’s payout ratio is 19.75%.

WARNING: “Rhumbline Advisers Acquires 168,817 Shares of New York Times Co (NYT)” was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright legislation. The original version of this piece can be read at https://sportsperspectives.com/2019/02/17/rhumbline-advisers-acquires-168817-shares-of-new-york-times-co-nyt.html.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company provides The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

Recommended Story: What is the NASDAQ Stock Market?

Want to see what other hedge funds are holding NYT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for New York Times Co (NYSE:NYT).

Institutional Ownership by Quarter for New York Times (NYSE:NYT)

Receive News & Ratings for New York Times Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Times and related companies with MarketBeat.com's FREE daily email newsletter.