Retirement Systems of Alabama Has $22.25 Million Position in The New York Times Company (NYSE:NYT)

Retirement Systems of Alabama lessened its holdings in shares of The New York Times Company (NYSE:NYT) by 0.8% in the third quarter, Holdings Channel.com reports. The fund owned 399,745 shares of the company’s stock after selling 3,283 shares during the quarter. Retirement Systems of Alabama’s holdings in New York Times were worth $22,254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NYT. UMB Bank n.a. grew its stake in shares of New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the period. Signaturefd LLC grew its position in shares of New York Times by 34.2% during the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after buying an additional 432 shares during the period. Blue Trust Inc. increased its stake in shares of New York Times by 401.8% in the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after acquiring an additional 1,800 shares during the last quarter. GAMMA Investing LLC raised its position in shares of New York Times by 49.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock valued at $117,000 after acquiring an additional 698 shares during the period. Finally, Paladin Wealth LLC bought a new position in New York Times during the 3rd quarter worth approximately $172,000. Institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

NYT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price 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. JPMorgan Chase & Co. raised their price objective on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

New York Times Stock Down 0.4 %

Shares of NYT stock opened at $55.07 on Friday. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $58.16. The firm has a fifty day moving average of $54.81 and a 200-day moving average of $53.62. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 1.75 and a beta of 1.00.

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 the consensus estimate of $0.41 by $0.04. The firm had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. On average, equities analysts expect that The New York Times Company will post 1.84 EPS for the current year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.94%. The ex-dividend date was Wednesday, October 9th. New York Times’s payout ratio is 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.