Retirement Systems of Alabama Has $9.85 Million Stock Position in The New York Times Company (NYSE:NYT)

Retirement Systems of Alabama decreased its stake in shares of The New York Times Company (NYSE:NYT) by 50.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,603 shares of the company’s stock after selling 200,998 shares during the period. Retirement Systems of Alabama owned 0.12% of New York Times worth $9,851,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NYT. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in New York Times by 511.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock worth $25,000 after buying an additional 394 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in New York Times during the 4th quarter worth about $36,000. American National Bank & Trust acquired a new position in New York Times during the 1st quarter worth about $45,000. Smartleaf Asset Management LLC lifted its position in New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after buying an additional 247 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in New York Times by 12.6% during the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after buying an additional 212 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Trading Up 0.4%

Shares of NYSE:NYT opened at $54.71 on Tuesday. The stock has a market capitalization of $8.92 billion, a P/E ratio of 29.73, a P/E/G ratio of 1.89 and a beta of 1.13. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $58.16. The business has a 50-day moving average price of $53.73 and a two-hundred day moving average price of $51.75.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. The firm had revenue of $635.91 million during the quarter, compared to analysts’ expectations of $634.99 million. New York Times had a return on equity of 18.70% and a net margin of 11.53%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. As a group, equities analysts predict that The New York Times Company will post 2.08 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NYT. Wall Street Zen upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Citigroup reissued a “buy” rating on shares of New York Times in a report on Thursday, June 12th. Finally, Guggenheim boosted their price objective on New York Times from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.40.

Insider Activity

In other news, EVP William Bardeen sold 2,500 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $56.83, for a total value of $142,075.00. Following the completion of the sale, the executive vice president now directly owns 16,727 shares of the company’s stock, valued at $950,595.41. This represents a 13.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David S. Perpich sold 4,000 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $56.18, for a total value of $224,720.00. Following the completion of the sale, the director now directly owns 27,569 shares of the company’s stock, valued at approximately $1,548,826.42. This trade represents a 12.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,490 shares of company stock valued at $479,728 in the last ninety days. 1.90% of the stock is owned by insiders.

About New York Times

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.