Resona Asset Management Co. Ltd. Purchases New Stake in The New York Times Company $NYT

Resona Asset Management Co. Ltd. acquired a new position in shares of The New York Times Company (NYSE:NYT) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,922 shares of the company’s stock, valued at approximately $1,752,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Navalign LLC acquired a new stake in New York Times during the fourth quarter worth about $25,000. Cornerstone Planning Group LLC raised its position in shares of 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 buying an additional 190 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of New York Times in the 4th quarter valued at approximately $32,000. SOA Wealth Advisors LLC. bought a new stake in shares of New York Times during the 4th quarter worth approximately $34,000. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of New York Times by 313.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 567 shares of the company’s stock worth $47,000 after acquiring an additional 430 shares during the period. Institutional investors own 95.37% of the company’s stock.

More New York Times News

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

• Positive Sentiment: NYT was singled out as a low-beta defensive stock that may appeal to investors seeking stability amid escalating U.S.-Iran tensions and market volatility. 4 Low-Beta Defensive Stocks to Buy as Geopolitical Tensions Escalate
• Neutral Sentiment: Several recent NYT articles covered high-interest topics such as the Iran conflict, World Cup controversies, Japan’s new intelligence agency, and travel/features, which can support readership but do not clearly indicate an immediate financial impact. How the Superwealthy Sidestep the Masses to Get to the World Cup

Insider Transactions at New York Times

In other news, EVP Jacqueline M. Welch sold 4,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total value of $296,560.00. Following the completion of the transaction, the executive vice president directly owned 23,873 shares in the company, valued at approximately $1,769,944.22. This represents a 14.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William Bardeen sold 4,121 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly owned 14,560 shares in the company, valued at approximately $1,133,496. This trade represents a 22.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 17,121 shares of company stock worth $1,310,920. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms 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 Saturday, May 9th. Morgan Stanley set a $90.00 target price on New York Times in a research note on Thursday, May 7th. UBS Group set a $80.00 target price on New York Times in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $95.00 price target on shares of New York Times in a research note on Thursday, May 7th. Finally, Citigroup reissued a “neutral” rating on shares of New York Times in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.22.

New York Times Trading Up 0.1%

NYT opened at $75.07 on Tuesday. The company has a market cap of $12.15 billion, a P/E ratio of 32.22, a PEG ratio of 1.55 and a beta of 0.96. The company’s 50 day moving average is $74.59 and its 200-day moving average is $75.84. The New York Times Company has a 1-year low of $51.03 and a 1-year high of $87.10.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.12. The business had revenue of $712.24 million during the quarter, compared to analysts’ expectations of $699.93 million. New York Times had a net margin of 13.18% and a return on equity of 22.02%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. On average, equities analysts forecast that The New York Times Company will post 2.93 EPS for the current year.

New York Times Dividend Announcement

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

About New York Times

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.