Zurcher Kantonalbank Zurich Cantonalbank Has $1.63 Million Stake in The New York Times Company (NYSE:NYT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of The New York Times Company (NYSE:NYT) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,343 shares of the company’s stock after purchasing an additional 3,354 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in New York Times were worth $1,633,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NYT. Northstar Group Inc. acquired a new stake in New York Times in the 4th quarter valued at approximately $218,000. Acadian Asset Management LLC acquired a new stake in shares of New York Times in the third quarter valued at approximately $578,000. Trillium Asset Management LLC lifted its position in shares of New York Times by 16.4% in the third quarter. Trillium Asset Management LLC now owns 148,723 shares of the company’s stock worth $6,127,000 after purchasing an additional 20,941 shares in the last quarter. Burgundy Asset Management Ltd. boosted its holdings in New York Times by 17.1% during the third quarter. Burgundy Asset Management Ltd. now owns 756,812 shares of the company’s stock worth $31,181,000 after purchasing an additional 110,706 shares during the last quarter. Finally, Baillie Gifford & Co. grew its position in New York Times by 9.7% in the third quarter. Baillie Gifford & Co. now owns 922,490 shares of the company’s stock valued at $38,007,000 after purchasing an additional 81,217 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Up 0.2 %

NYSE:NYT opened at $43.30 on Thursday. The New York Times Company has a 12-month low of $35.06 and a 12-month high of $49.87. The stock’s 50 day moving average price is $43.30 and its two-hundred day moving average price is $44.74. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of 31.15 and a beta of 1.01.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.10. The firm had revenue of $676.20 million during the quarter, compared to analysts’ expectations of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. Equities research analysts expect that The New York Times Company will post 1.64 EPS for the current year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date was Monday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.11. New York Times’s payout ratio is currently 37.41%.

Insider Activity

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of New York Times stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the completion of the sale, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other New York Times news, CEO Levien Meredith A. Kopit sold 13,543 shares of New York Times stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $44.11, for a total value of $597,381.73. Following the completion of the sale, the chief executive officer now owns 90,759 shares in the company, valued at approximately $4,003,379.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Perpich sold 3,014 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total transaction of $132,706.42. Following the transaction, the director now owns 20,813 shares in the company, valued at approximately $916,396.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,557 shares of company stock valued at $1,029,968. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NYT has been the subject of a number of recent research reports. Argus upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Monday, March 4th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, Citigroup assumed coverage on New York Times in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, New York Times currently has a consensus rating of “Moderate Buy” and an average target price of $45.67.

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.