Texas Permanent School Fund Has $5.84 Million Stock Position in The New York Times Company (NYSE:NYT)

Texas Permanent School Fund lessened its position in The New York Times Company (NYSE:NYTGet Rating) by 2.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 120,997 shares of the company’s stock after selling 2,606 shares during the period. Texas Permanent School Fund owned approximately 0.07% of New York Times worth $5,844,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC boosted its position in shares of New York Times by 800.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 513 shares of the company’s stock valued at $25,000 after acquiring an additional 456 shares during the last quarter. National Bank of Canada FI purchased a new stake in New York Times during the 4th quarter valued at approximately $26,000. Spire Wealth Management purchased a new stake in New York Times during the 4th quarter valued at $45,000. TFC Financial Management boosted its holdings in shares of New York Times by 138.5% in the fourth quarter. TFC Financial Management now owns 1,593 shares of the company’s stock valued at $77,000 after purchasing an additional 925 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of New York Times by 59.2% during the third quarter. Van ECK Associates Corp now owns 2,874 shares of the company’s stock worth $142,000 after purchasing an additional 1,069 shares in the last quarter. Institutional investors and hedge funds own 92.83% of the company’s stock.

In related news, CEO Levien Meredith A. Kopit sold 10,000 shares of the company’s stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $42.78, for a total transaction of $427,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Diane Brayton sold 9,999 shares of the stock in a transaction dated Friday, February 18th. The stock was sold at an average price of $41.44, for a total transaction of $414,358.56. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.

Shares of NYT stock traded up $0.37 during trading hours on Friday, hitting $40.29. 677 shares of the company were exchanged, compared to its average volume of 1,358,279. The New York Times Company has a 52 week low of $37.27 and a 52 week high of $56.19. The business has a 50 day moving average of $44.29 and a two-hundred day moving average of $45.71. The company has a market capitalization of $6.75 billion, a PE ratio of 30.95 and a beta of 0.82.

New York Times (NYSE:NYTGet Rating) last issued its quarterly earnings results on Wednesday, February 2nd. The company reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.08. New York Times had a return on equity of 15.09% and a net margin of 10.60%. The company had revenue of $594.23 million for the quarter, compared to analysts’ expectations of $579.98 million. During the same quarter last year, the business earned $0.40 earnings per share. New York Times’s revenue was up 16.7% on a year-over-year basis. As a group, sell-side analysts forecast that The New York Times Company will post 1.15 earnings per share for the current fiscal year.

New York Times announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 2nd that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 21st. Shareholders of record on Wednesday, April 6th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Tuesday, April 5th. This is an increase from New York Times’s previous quarterly dividend of $0.07. New York Times’s dividend payout ratio is 27.91%.

NYT has been the subject of several recent research reports. Zacks Investment Research raised shares of New York Times from a “sell” rating to a “hold” rating and set a $48.00 price target for the company in a research report on Friday, April 8th. StockNews.com started coverage on shares of New York Times in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

New York Times Company Profile (Get Rating)

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers 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.

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

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