Zurcher Kantonalbank Zurich Cantonalbank Acquires 687 Shares of New York Times Co (NYSE:NYT)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in New York Times Co (NYSE:NYT) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,763 shares of the company’s stock after acquiring an additional 687 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in New York Times were worth $318,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. purchased a new position in New York Times in the 2nd quarter valued at approximately $7,124,000. SG Americas Securities LLC grew its stake in New York Times by 149.4% in the 2nd quarter. SG Americas Securities LLC now owns 43,002 shares of the company’s stock valued at $1,403,000 after buying an additional 25,763 shares in the last quarter. HGI Capital Management LLC purchased a new position in New York Times in the 2nd quarter valued at approximately $343,000. Steward Partners Investment Advisory LLC purchased a new position in New York Times in the 2nd quarter valued at approximately $32,000. Finally, Trustcore Financial Services LLC purchased a new position in New York Times in the 2nd quarter valued at approximately $41,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

NYSE:NYT traded up $0.03 during trading hours on Tuesday, hitting $28.50. The stock had a trading volume of 410,218 shares, compared to its average volume of 2,291,463. The company has a 50 day simple moving average of $33.37 and a two-hundred day simple moving average of $32.99. New York Times Co has a one year low of $21.34 and a one year high of $36.25. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 35.19 and a beta of 1.12.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. New York Times had a net margin of 7.55% and a return on equity of 13.40%. The firm had revenue of $436.30 million during the quarter, compared to the consensus estimate of $439.20 million. During the same period last year, the firm earned $0.17 EPS. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. Research analysts predict that New York Times Co will post 0.81 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Wednesday, July 10th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.70%. The ex-dividend date was Tuesday, July 9th. New York Times’s payout ratio is 24.69%.

NYT has been the subject of a number of recent research reports. Evercore ISI set a $38.00 price objective on shares of New York Times and gave the company a “buy” rating in a research note on Wednesday, August 7th. ValuEngine lowered shares of New York Times from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of New York Times from a “hold” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $33.60.

About New York Times

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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Institutional Ownership by Quarter for New York Times (NYSE:NYT)

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