Arrowstreet Capital Limited Partnership Acquires 404,558 Shares of The New York Times Company (NYSE:NYT)

Arrowstreet Capital Limited Partnership raised its stake in The New York Times Company (NYSE:NYT - Free Report) by 70.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 982,659 shares of the company's stock after acquiring an additional 404,558 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.60% of New York Times worth $51,147,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NYT. Coldstream Capital Management Inc. boosted its position in shares of New York Times by 4.3% in the third quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company's stock valued at $260,000 after acquiring an additional 193 shares during the period. Brown Financial Advisors grew its stake in New York Times by 2.3% during the fourth quarter. Brown Financial Advisors now owns 8,996 shares of the company's stock worth $468,000 after buying an additional 200 shares in the last quarter. IFP Advisors Inc increased its holdings in New York Times by 0.7% in the 4th quarter. IFP Advisors Inc now owns 34,368 shares of the company's stock valued at $1,789,000 after buying an additional 224 shares during the period. Natixis Advisors LLC increased its holdings in New York Times by 1.2% in the 4th quarter. Natixis Advisors LLC now owns 19,187 shares of the company's stock valued at $999,000 after buying an additional 228 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock valued at $60,000 after buying an additional 247 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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New York Times Price Performance

Shares of New York Times stock traded down $0.87 during trading on Thursday, reaching $48.74. 1,859,179 shares of the company traded hands, compared to its average volume of 1,270,935. The firm has a market capitalization of $7.96 billion, a PE ratio of 27.38, a P/E/G ratio of 1.75 and a beta of 1.18. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $58.16. The company has a 50 day moving average price of $49.77 and a 200-day moving average price of $52.64.

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

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This is an increase from New York Times's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. New York Times's payout ratio is currently 40.45%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their target price on New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.00.

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.