CANADA LIFE ASSURANCE Co Boosts Stake in The New York Times Company (NYSE:NYT)

CANADA LIFE ASSURANCE Co grew its stake in The New York Times Company (NYSE:NYT - Free Report) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,141 shares of the company's stock after acquiring an additional 5,562 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.09% of New York Times worth $7,499,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. raised its holdings in New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company's stock worth $187,544,000 after purchasing an additional 49,853 shares in the last quarter. Clark & Stuart Inc purchased a new position in shares of New York Times in the 4th quarter worth approximately $8,490,000. Park Avenue Securities LLC raised its stake in shares of New York Times by 236.0% during the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company's stock worth $728,000 after acquiring an additional 9,823 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in New York Times during the fourth quarter valued at approximately $1,200,000. Finally, Figure 8 Investment Strategies LLC acquired a new stake in New York Times in the fourth quarter valued at approximately $492,000. 95.37% of the stock is owned by institutional investors.

New York Times Price Performance

NYSE NYT opened at $50.12 on Wednesday. The stock's fifty day moving average price is $48.45 and its 200 day moving average price is $51.89. The New York Times Company has a 1 year low of $42.33 and a 1 year high of $58.16. The company has a market cap of $8.18 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 1.75 and a beta of 1.10.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st were issued a $0.18 dividend. This is an increase from New York Times's previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Tuesday, April 1st. New York Times's dividend payout ratio is 40.45%.

Wall Street Analyst Weigh In

NYT has been the topic of a number of recent analyst reports. StockNews.com raised New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Morgan Stanley decreased their price target on New York Times from $56.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock 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.

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