Argus Investors Counsel Inc. Makes New $1.53 Million Investment in The New York Times Company $NYT

Argus Investors Counsel Inc. acquired a new stake in The New York Times Company (NYSE:NYT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,327 shares of the company’s stock, valued at approximately $1,535,000. New York Times accounts for approximately 1.4% of Argus Investors Counsel Inc.’s holdings, making the stock its 24th largest holding.

A number of other hedge funds also recently made changes to their positions in NYT. Navalign LLC bought a new position in shares of New York Times during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its stake in New York Times by 74.2% in the 4th quarter. Cornerstone Planning Group LLC now owns 446 shares of the company’s stock valued at $32,000 after acquiring an additional 190 shares during the period. International Assets Investment Management LLC bought a new stake in New York Times in the 4th quarter valued at $32,000. SOA Wealth Advisors LLC. acquired a new stake in New York Times during the 4th quarter valued at $34,000. Finally, SJS Investment Consulting Inc. lifted its holdings in New York Times by 313.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 567 shares of the company’s stock valued at $47,000 after purchasing an additional 430 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on NYT shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $95.00 price objective on shares of New York Times in a report on Thursday, May 7th. Evercore restated an “outperform” rating and set a $92.00 target price on shares of New York Times in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of New York Times in a report on Tuesday, April 21st. 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. Finally, Citigroup reissued a “neutral” rating on shares of New York Times in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.22.

New York Times Price Performance

NYT stock opened at $73.87 on Friday. The New York Times Company has a fifty-two week low of $51.03 and a fifty-two week high of $87.10. The stock has a market capitalization of $11.96 billion, a price-to-earnings ratio of 31.70, a PEG ratio of 1.53 and a beta of 0.96. The business’s fifty day moving average price is $75.25 and its two-hundred day moving average price is $75.61.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, May 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.12. New York Times had a net margin of 13.18% and a return on equity of 22.02%. The company had revenue of $712.24 million during the quarter, compared to analysts’ expectations of $699.93 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. New York Times’s quarterly revenue was up 12.0% on a year-over-year basis. Research analysts expect that The New York Times Company will post 2.93 EPS for the current year.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Shareholders of record on Wednesday, July 8th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, July 8th. This represents a $0.92 dividend on an annualized basis and a yield of 1.2%. New York Times’s payout ratio is currently 39.48%.

Key New York Times News

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

• Positive Sentiment: A new bullish thesis highlighted The New York Times Company as a potentially attractive stock, pointing to its forward P/E and defensive profile as reasons investors may still want exposure. Is The New York Times Company (NYT) A Good Stock To Buy Now?
• Positive Sentiment: Zacks also named NYT among “safe picks” as consumer confidence improved but broader economic concerns remained, reinforcing the view that the company can appeal to investors looking for stability in uncertain markets. Consumer Confidence Improves but Economic Woes Continue: 4 Safe Picks
• Neutral Sentiment: Most of the other recent articles were standard New York Times newsroom and Athletic coverage, including politics, weather, sports, and feature stories, which are unlikely to materially move the stock on their own.
• Negative Sentiment: There is no major company-specific operational news in the latest batch, so the stock may also be constrained by the fact that it remains below key recent price levels and has not yet shown a strong fundamental catalyst.

Insider Buying and Selling at New York Times

In other news, EVP Jacqueline M. Welch sold 4,000 shares of New York Times stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $74.14, for a total value of $296,560.00. Following the completion of the sale, the executive vice president directly owned 23,873 shares in the company, valued at approximately $1,769,944.22. The trade was a 14.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William Bardeen sold 4,121 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $77.85, for a total value of $320,819.85. Following the completion of the sale, the executive vice president owned 14,560 shares of the company’s stock, valued at approximately $1,133,496. This trade represents a 22.06% 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 valued at $1,310,920 in the last quarter. Company insiders own 1.90% of the company’s stock.

New York Times Company Profile

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.