Vestcor Inc Has $743,000 Stock Position in The New York Times Company (NYSE:NYT)

Vestcor Inc reduced its position in The New York Times Company (NYSE:NYT) by 5.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,354 shares of the company’s stock after selling 807 shares during the quarter. Vestcor Inc’s holdings in New York Times were worth $743,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NYT. Wealth Enhancement Advisory Services LLC increased its holdings in New York Times by 5.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 12,173 shares of the company’s stock worth $623,000 after buying an additional 587 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of New York Times by 37.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,018 shares of the company’s stock valued at $359,000 after purchasing an additional 1,920 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of New York Times in the 2nd quarter valued at $2,712,000. Blue Trust Inc. boosted its holdings in New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Boston Trust Walden Corp acquired a new position in New York Times during the second quarter worth $210,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Performance

Shares of NYSE:NYT opened at $55.31 on Friday. The stock’s 50-day moving average is $54.81 and its 200-day moving average is $53.58. The company has a market cap of $9.07 billion, a P/E ratio of 32.73, a P/E/G ratio of 1.75 and a beta of 1.00. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16.

New York Times (NYSE:NYT) last released its earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The firm had revenue of $640.20 million for the quarter, compared to analyst estimates of $641.00 million. During the same quarter last year, the firm posted $0.37 EPS. The company’s revenue was up 7.0% on a year-over-year basis. As a group, equities analysts predict that The New York Times Company will post 1.84 EPS for the current year.

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NYT shares. Deutsche Bank Aktiengesellschaft boosted their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

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.