10,158 The New York Times Company $NYT Shares Acquired by Cullinan Associates Inc.

Cullinan Associates Inc. increased its position in shares of The New York Times Company (NYSE:NYT) by 9.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,525 shares of the company’s stock after acquiring an additional 10,158 shares during the quarter. Cullinan Associates Inc. owned 0.07% of New York Times worth $7,232,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Basecamp Wealth Advisors LLC boosted its stake in New York Times by 1,191.7% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 310 shares of the company’s stock worth $26,000 after purchasing an additional 286 shares during the period. Root Financial Partners LLC purchased a new position in New York Times during the 3rd quarter worth approximately $41,000. Bessemer Group Inc. raised its stake in New York Times by 34.4% during the 1st quarter. Bessemer Group Inc. now owns 687 shares of the company’s stock valued at $58,000 after purchasing an additional 176 shares during the period. Compass Wealth Management LLC acquired a new stake in New York Times during the 3rd quarter valued at $59,000. Finally, Provenance Wealth Advisors LLC acquired a new stake in New York Times during the 3rd quarter valued at $61,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Key Headlines Impacting New York Times

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

• Positive Sentiment: NYT beat third-quarter earnings and revenue estimates. EPS was $0.68 versus expectations of $0.65, while revenue rose 9.7% year over year to $768.5 million. Digital subscriber growth, higher subscription revenue and stronger advertising supported growth and margin expansion. The New York Times Q3 Earnings Beat on Digital Subscription Growth
• Neutral Sentiment: Reports say NYT is in advanced or exclusive talks to acquire film-focused social network Letterboxd for roughly $330 million. The deal could broaden the company’s audience and businesses, but its financial impact is uncertain until terms and a transaction are confirmed. New York Times Company in advanced talks to acquire Letterboxd for roughly $330 million
• Negative Sentiment: Barclays raised its price target to $64 from $63 but kept an “equal weight” rating. The target remains below the $68.33 price cited in the report, signaling limited expected upside from the analyst’s perspective. Barclays price target update

New York Times Stock Performance

Shares of NYT opened at $68.33 on Friday. The company has a market capitalization of $11.02 billion, a PE ratio of 27.33, a PEG ratio of 1.76 and a beta of 0.89. The company’s 50 day moving average price is $67.29 and its 200 day moving average price is $73.25. The New York Times Company has a 52 week low of $58.87 and a 52 week high of $87.10.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, November 4th. The company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. The company had revenue of $768.54 million during the quarter, compared to the consensus estimate of $767.21 million. New York Times had a net margin of 13.41% and a return on equity of 23.06%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, equities analysts forecast that The New York Times Company will post 2.95 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 22nd. Stockholders of record on Wednesday, October 7th were paid a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, October 7th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.3%. New York Times’s dividend payout ratio is 36.80%.

Analyst Upgrades and Downgrades

NYT has been the subject of a number of research analyst reports. Wall Street Zen lowered New York Times from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded New York Times from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. New Street Research set a $82.00 price target on New York Times in a research report on Tuesday, September 15th. Barclays upped their price target on New York Times from $63.00 to $64.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Zacks Research downgraded New York Times from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.80.

New York Times Profile

The New York Times Company is a media organization best known for publishing The New York Times, a newspaper founded in 1851. Based in New York City, the company produces journalism on U.S. and international news, politics, business, culture, science and other subjects.

Its offerings include print and digital news, games, cooking content, product reviews through Wirecutter, and sports journalism through The Athletic. The company serves readers in the United States and around the world through its digital platforms and print publications.

The company is led by President and Chief Executive Officer Meredith Kopit Levien, while A.G.