Maverick Capital Ltd. Sells 13,126 Shares of The New York Times Company $NYT

Maverick Capital Ltd. cut its holdings in The New York Times Company (NYSE:NYT) by 61.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,121 shares of the company’s stock after selling 13,126 shares during the quarter. Maverick Capital Ltd.’s holdings in New York Times were worth $680,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NYT. Genus Capital Management Inc. bought a new position in New York Times in the 4th quarter valued at $4,945,000. Horizon Investments LLC lifted its stake in shares of New York Times by 52.8% during the fourth quarter. Horizon Investments LLC now owns 97,772 shares of the company’s stock valued at $6,770,000 after acquiring an additional 33,804 shares during the period. LGT Fund Management Co Ltd. lifted its stake in shares of New York Times by 27.8% during the first quarter. LGT Fund Management Co Ltd. now owns 70,463 shares of the company’s stock valued at $5,900,000 after acquiring an additional 15,321 shares during the period. Geode Capital Management LLC boosted its holdings in New York Times by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,922,565 shares of the company’s stock valued at $272,347,000 after acquiring an additional 50,389 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. acquired a new stake in New York Times in the first quarter worth about $1,752,000. 95.37% of the stock is owned by institutional investors.

New York Times Price Performance

New York Times stock opened at $75.15 on Wednesday. The firm has a market capitalization of $12.16 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 1.50 and a beta of 0.96. The company’s 50 day simple moving average is $73.76 and its 200 day simple moving average is $76.14. The New York Times Company has a fifty-two week low of $51.03 and a fifty-two week high of $87.10.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.49 by $0.12. The firm had revenue of $712.24 million during the quarter, compared to the consensus estimate of $699.93 million. New York Times had a net margin of 13.18% and a return on equity of 22.02%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. As a group, analysts predict that The New York Times Company will post 2.93 EPS for the current fiscal year.

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 23rd. Stockholders of record on Wednesday, July 8th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, July 8th. This represents a $0.92 annualized dividend and a dividend yield of 1.2%. New York Times’s payout ratio is 39.48%.

Key Stories Impacting New York Times

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

• Positive Sentiment: Business fundamentals remain the main support. An analysis argues that The New York Times’ operating business is strong, although the stock’s valuation is the key question for investors. This follows the company’s latest quarterly results, which showed revenue growth and earnings above analyst expectations. The New York Times: The Business Is Strong, The Stock Is The Question
• Neutral Sentiment: Continued high-profile coverage may reinforce the company’s news and subscription brand. Recent reporting spans major political, international, climate and cultural stories, including Russia sanctions, Middle East tensions, record European wildfires and a Japan earthquake. While the articles are not direct financial catalysts, broad coverage and audience engagement are relevant to the company’s digital subscription and advertising businesses. Senators Forge a Deal on Graham’s Russia Sanctions Bill
• Negative Sentiment: Trump’s $15 billion defamation lawsuit remains an overhang. A federal judge declined to dismiss the case immediately but ordered Trump to file an amended complaint within a month. The ruling does not establish liability, but it allows the litigation to continue and prolongs potential legal costs, management distraction and reputational risk for NYT. Judge Doesn’t Toss Trump’s $15 Billion New York Times Lawsuit, But It Must Be Amended

Insider Activity at New York Times

In related news, EVP William Bardeen sold 4,121 shares of the company’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 completion of the sale, the executive vice president owned 14,560 shares in the company, valued at $1,133,496. This represents a 22.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jacqueline M. Welch sold 4,000 shares of the firm’s 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 sale, the executive vice president directly owned 23,873 shares in the company, valued at $1,769,944.22. The trade was a 14.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,121 shares of company stock worth $1,310,920 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on NYT. Evercore reissued an “outperform” rating and set a $92.00 price objective on shares of New York Times in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their target price on shares of New York Times from $74.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. UBS Group set a $80.00 price target on shares of New York Times in a research report on Wednesday, June 24th. Barclays lifted their price objective on New York Times from $60.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen raised New York Times from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.22.

New York Times Profile

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.