Maverick Capital Ltd. Has $680,000 Stock Position in The New York Times Company $NYT

Maverick Capital Ltd. lowered its stake in shares of The New York Times Company (NYSE:NYT) by 61.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,121 shares of the company’s stock after selling 13,126 shares during the quarter. Maverick Capital Ltd.’s holdings in New York Times were worth $680,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Berkshire Hathaway Inc bought a new stake in shares of New York Times in the 4th quarter worth approximately $351,664,000. Bank of Montreal Can increased its position in shares of New York Times by 10,018.3% during the fourth quarter. Bank of Montreal Can now owns 2,316,172 shares of the company’s stock valued at $160,789,000 after purchasing an additional 2,293,281 shares during the period. AQR Capital Management LLC raised its stake in shares of New York Times by 78.1% in the second quarter. AQR Capital Management LLC now owns 4,187,888 shares of the company’s stock valued at $233,265,000 after purchasing an additional 1,836,788 shares in the last quarter. Egerton Capital UK LLP acquired a new position in shares of New York Times in the fourth quarter valued at $97,882,000. Finally, Two Sigma Investments LP lifted its position in New York Times by 98.5% in the third quarter. Two Sigma Investments LP now owns 2,055,628 shares of the company’s stock worth $117,993,000 after purchasing an additional 1,020,031 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Bank of America decreased their price target on shares of New York Times from $87.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 24th. JPMorgan Chase & Co. increased their price objective on shares of New York Times from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $95.00 price objective on shares of New York Times in a report on Thursday, May 7th. Barclays upped their target price on shares of New York Times from $60.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley set a $90.00 price target on shares of New York Times in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.22.

Insider Buying and Selling

In related news, EVP William Bardeen sold 4,121 shares of New York Times stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $77.85, for a total transaction of $320,819.85. Following the completion of the transaction, the executive vice president directly owned 14,560 shares of the company’s stock, valued at $1,133,496. This trade represents a 22.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David S. Perpich sold 9,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $77.06, for a total transaction of $693,540.00. Following the completion of the transaction, the director owned 28,469 shares in the company, valued at approximately $2,193,821.14. This trade represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 17,121 shares of company stock worth $1,310,920 in the last quarter. 1.90% of the stock is owned by corporate insiders.

New York Times News Roundup

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Business fundamentals remain the main support. An analysis argues that The New York Times’ operating business is strong, although the stock’s valuation is the key question for investors. This follows the company’s latest quarterly results, which showed revenue growth and earnings above analyst expectations. The New York Times: The Business Is Strong, The Stock Is The Question
• Neutral Sentiment: Continued high-profile coverage may reinforce the company’s news and subscription brand. Recent reporting spans major political, international, climate and cultural stories, including Russia sanctions, Middle East tensions, record European wildfires and a Japan earthquake. While the articles are not direct financial catalysts, broad coverage and audience engagement are relevant to the company’s digital subscription and advertising businesses. Senators Forge a Deal on Graham’s Russia Sanctions Bill
• Negative Sentiment: Trump’s $15 billion defamation lawsuit remains an overhang. A federal judge declined to dismiss the case immediately but ordered Trump to file an amended complaint within a month. The ruling does not establish liability, but it allows the litigation to continue and prolongs potential legal costs, management distraction and reputational risk for NYT. Judge Doesn’t Toss Trump’s $15 Billion New York Times Lawsuit, But It Must Be Amended

New York Times Price Performance

Shares of NYT stock opened at $75.15 on Wednesday. The stock’s fifty day simple moving average is $73.76 and its 200 day simple moving average is $76.14. The New York Times Company has a one year low of $51.03 and a one year high of $87.10. The firm has a market cap of $12.16 billion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 1.50 and a beta of 0.96.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.12. The firm had revenue of $712.24 million during the quarter, compared to analyst estimates of $699.93 million. New York Times had a return on equity of 22.02% and a net margin of 13.18%.The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 earnings per share. On average, research analysts anticipate that The New York Times Company will post 2.93 earnings per share for the current year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Wednesday, July 8th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. New York Times’s dividend payout ratio is presently 39.48%.

About New York Times

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.