Connor Clark & Lunn Investment Management Ltd. Makes New Investment in The New York Times Company (NYSE:NYT)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of The New York Times Company (NYSE:NYT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,097 shares of the company's stock, valued at approximately $369,000.

A number of other institutional investors also recently made changes to their positions in NYT. UMB Bank n.a. increased its position in New York Times by 61.4% during the fourth quarter. UMB Bank n.a. now owns 744 shares of the company's stock worth $39,000 after acquiring an additional 283 shares during the period. Smartleaf Asset Management LLC grew its position in shares of New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock worth $60,000 after purchasing an additional 247 shares in the last quarter. GAMMA Investing LLC increased its position in shares of New York Times by 20.2% in the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company's stock worth $131,000 after purchasing an additional 424 shares during the period. Portfolio Design Labs LLC acquired a new position in New York Times in the fourth quarter valued at about $202,000. Finally, Synergy Financial Group LTD bought a new stake in New York Times during the third quarter worth about $217,000. Institutional investors own 95.37% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of New York Times from $56.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, February 6th. StockNews.com raised New York Times from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, New York Times currently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

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New York Times Stock Performance

Shares of NYSE:NYT traded down $0.45 during trading on Thursday, reaching $48.88. The stock had a trading volume of 1,458,683 shares, compared to its average volume of 1,856,421. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16. The firm's fifty day moving average is $50.05 and its 200 day moving average is $52.76. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 27.46, a P/E/G ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. On average, research analysts forecast that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Tuesday, April 1st. This is a positive change from New York Times's previous quarterly dividend of $0.13. New York Times's payout ratio is 40.45%.

New York Times 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.