SCS Capital Management LLC Boosts Stake in The New York Times Company $NYT

SCS Capital Management LLC grew its position in shares of The New York Times Company (NYSE:NYT) by 16.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 786,106 shares of the company’s stock after buying an additional 110,944 shares during the quarter. SCS Capital Management LLC owned 0.48% of New York Times worth $44,006,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of NYT. Covestor Ltd lifted its holdings in New York Times by 7.9% during the first quarter. Covestor Ltd now owns 2,849 shares of the company’s stock worth $141,000 after acquiring an additional 208 shares during the period. MAI Capital Management grew its stake in New York Times by 7.2% in the 2nd quarter. MAI Capital Management now owns 3,516 shares of the company’s stock valued at $197,000 after purchasing an additional 236 shares during the period. ProShare Advisors LLC increased its position in shares of New York Times by 3.5% during the 2nd quarter. ProShare Advisors LLC now owns 7,195 shares of the company’s stock valued at $403,000 after purchasing an additional 243 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of New York Times by 0.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 54,815 shares of the company’s stock worth $3,069,000 after purchasing an additional 271 shares during the period. Finally, Valueworks LLC raised its stake in shares of New York Times by 0.3% during the 1st quarter. Valueworks LLC now owns 88,939 shares of the company’s stock worth $4,411,000 after purchasing an additional 278 shares during the period. 95.37% of the stock is owned by institutional investors.

New York Times Trading Down 0.2%

New York Times stock opened at $64.05 on Friday. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $65.32. The firm has a market capitalization of $10.40 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16. The firm’s 50 day simple moving average is $59.42 and its 200 day simple moving average is $57.53.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. New York Times had a net margin of 12.29% and a return on equity of 20.30%. The firm had revenue of $700.82 million during the quarter, compared to analyst estimates of $692.01 million. During the same period in the previous year, the business earned $0.45 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts forecast that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. New York Times’s dividend payout ratio (DPR) is presently 35.12%.

Wall Street Analysts Forecast Growth

NYT has been the subject of several research reports. Guggenheim increased their price target on shares of New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Barclays increased their target price on shares of New York Times from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “buy (b)” rating on shares of New York Times in a research note on Wednesday, October 8th. Zacks Research cut shares of New York Times from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Finally, UBS Group set a $62.00 price objective on New York Times in a report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $63.57.

New York Times Company 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.