Cipher Capital LP Takes $906,000 Position in New York Times Co (NYT)

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Cipher Capital LP acquired a new position in shares of New York Times Co (NYSE:NYT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 40,657 shares of the company’s stock, valued at approximately $906,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of NYT. SG Americas Securities LLC lifted its holdings in shares of New York Times by 112.9% during the 3rd quarter. SG Americas Securities LLC now owns 49,391 shares of the company’s stock worth $1,143,000 after acquiring an additional 26,191 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of New York Times by 28.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 112,162 shares of the company’s stock worth $2,596,000 after acquiring an additional 24,629 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of New York Times by 7.6% during the 3rd quarter. Prudential Financial Inc. now owns 93,691 shares of the company’s stock worth $2,169,000 after acquiring an additional 6,650 shares during the last quarter. Royal London Asset Management Ltd. lifted its holdings in shares of New York Times by 138.8% during the 3rd quarter. Royal London Asset Management Ltd. now owns 73,617 shares of the company’s stock worth $1,702,000 after acquiring an additional 42,789 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of New York Times by 7.2% during the 3rd quarter. BlackRock Inc. now owns 16,133,035 shares of the company’s stock worth $373,479,000 after acquiring an additional 1,090,034 shares during the last quarter. 90.33% of the stock is owned by institutional investors.

In other New York Times news, CFO Roland A. Caputo sold 11,580 shares of the business’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $31.13, for a total value of $360,485.40. Following the transaction, the chief financial officer now owns 27,789 shares in the company, valued at $865,071.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Thompson sold 70,000 shares of the business’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $32.36, for a total transaction of $2,265,200.00. Following the completion of the transaction, the chief executive officer now owns 429,247 shares in the company, valued at approximately $13,890,432.92. The disclosure for this sale can be found here. Insiders sold 166,642 shares of company stock valued at $5,313,056 over the last three months. 5.20% of the stock is currently owned by insiders.

Several research firms have weighed in on NYT. Cannonball Research raised shares of New York Times to a “buy” rating and set a $41.00 price target for the company in a research note on Monday, March 18th. ValuEngine raised shares of New York Times from a “buy” rating to a “strong-buy” rating in a research note on Thursday, February 28th. Zacks Investment Research raised shares of New York Times from a “sell” rating to a “hold” rating in a research note on Thursday, January 3rd. Finally, Evercore ISI began coverage on shares of New York Times in a research note on Thursday, December 13th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $29.25.

New York Times stock opened at $32.60 on Friday. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 40.25 and a beta of 1.26. New York Times Co has a twelve month low of $21.34 and a twelve month high of $34.85.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. The business had revenue of $502.70 million during the quarter, compared to the consensus estimate of $479.57 million. New York Times had a net margin of 7.19% and a return on equity of 13.61%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, equities analysts anticipate that New York Times Co will post 0.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 3rd will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, April 2nd. This is an increase from New York Times’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 0.61%. New York Times’s payout ratio is currently 19.75%.

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About New York Times

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.

Further Reading: Debt-To-Equity Ratio

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

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