Jupiter Asset Management Ltd. Takes $5.83 Million Position in The New York Times Company (NYSE:NYT)

Jupiter Asset Management Ltd. purchased a new position in shares of The New York Times Company (NYSE:NYT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 111,951 shares of the company's stock, valued at approximately $5,827,000. Jupiter Asset Management Ltd. owned about 0.07% of New York Times as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NYT. Franklin Resources Inc. lifted its position 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 valued at $187,544,000 after purchasing an additional 49,853 shares during the period. Comgest Global Investors S.A.S. lifted its position in shares of New York Times by 3.2% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company's stock valued at $25,721,000 after acquiring an additional 14,407 shares during the period. BNP Paribas Financial Markets lifted its position in shares of New York Times by 95.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company's stock valued at $4,571,000 after acquiring an additional 40,058 shares during the period. Clark & Stuart Inc acquired a new stake in shares of New York Times during the 4th quarter valued at approximately $8,490,000. Finally, Park Avenue Securities LLC lifted its position 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 valued at $728,000 after acquiring an additional 9,823 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

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Wall Street Analyst Weigh In

NYT has been the subject of several research reports. Morgan Stanley cut their price objective on 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 upgraded New York Times from a "hold" rating to a "buy" rating in a research report 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $56.00.

New York Times Price Performance

NYT stock traded up $1.10 during midday trading on Friday, hitting $48.92. The stock had a trading volume of 1,233,387 shares, compared to its average volume of 1,196,690. The firm has a market cap of $7.99 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $58.16. The company's 50-day moving average price is $50.52 and its 200 day moving average price is $53.06.

New York Times (NYSE:NYT - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. As a group, sell-side analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from New York Times's previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. New York Times's payout ratio is currently 40.45%.

About New York Times

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.