Intech Investment Management LLC Sells 10,831 Shares of The New York Times Company (NYSE:NYT)

Intech Investment Management LLC decreased its stake in shares of The New York Times Company (NYSE:NYT) by 15.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,004 shares of the company’s stock after selling 10,831 shares during the period. Intech Investment Management LLC’s holdings in New York Times were worth $3,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Farallon Capital Management LLC raised its stake in shares of New York Times by 18.1% in the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after purchasing an additional 1,711,268 shares during the period. Darsana Capital Partners LP grew its holdings in shares of New York Times by 25.0% during the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after buying an additional 1,250,000 shares in the last quarter. Renaissance Technologies LLC raised its position in New York Times by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock valued at $149,131,000 after buying an additional 482,200 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in New York Times by 22.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock valued at $124,164,000 after acquiring an additional 438,680 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in New York Times by 582.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 361,235 shares of the company’s stock worth $20,110,000 after acquiring an additional 308,277 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Barclays increased 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. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, New York Times has a consensus rating of “Moderate Buy” and an average target price of $54.83.

New York Times Price Performance

Shares of NYT stock opened at $54.16 on Friday. The stock has a market cap of $8.88 billion, a P/E ratio of 32.05, a P/E/G ratio of 1.69 and a beta of 1.02. The company has a fifty day moving average price of $54.84 and a two-hundred day moving average price of $52.96. The New York Times Company has a one year low of $41.55 and a one year high of $57.08.

New York Times (NYSE:NYT) last issued its earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. New York Times’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. As a group, equities research analysts anticipate that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Wednesday, October 9th. New York Times’s payout ratio is presently 30.77%.

New York Times 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.