Kesler Norman & Wride LLC increased its holdings in The New York Times Company (NYSE:NYT - Free Report) by 44.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,987 shares of the company's stock after acquiring an additional 6,181 shares during the quarter. Kesler Norman & Wride LLC's holdings in New York Times were worth $1,040,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NYT. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of New York Times by 511.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock worth $25,000 after purchasing an additional 394 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in New York Times during the fourth quarter worth $36,000. UMB Bank n.a. lifted its holdings 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 buying an additional 283 shares during the period. Smartleaf Asset Management LLC boosted its position in New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock valued at $60,000 after acquiring an additional 247 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of New York Times by 20.2% in the 4th quarter. GAMMA Investing LLC now owns 2,526 shares of the company's stock valued at $131,000 after acquiring an additional 424 shares during the period. 95.37% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. StockNews.com cut New York Times from a "buy" rating to a "hold" rating in a research note on Thursday. Morgan Stanley decreased their price target 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $56.00.
Get Our Latest Report on New York Times
New York Times Stock Performance
NYT stock traded down $0.87 on Thursday, hitting $48.74. 1,859,179 shares of the company's stock were exchanged, compared to its average volume of 1,270,935. The firm has a 50 day moving average price of $49.68 and a two-hundred day moving average price of $52.62. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $58.16. The stock has a market cap of $7.96 billion, a P/E ratio of 27.38, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18.
New York Times (NYSE:NYT - Get Free Report) last issued its quarterly 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%. Sell-side analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal year.
New York Times Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. This is a boost from New York Times's previous quarterly dividend of $0.13. New York Times's dividend payout ratio (DPR) is currently 40.45%.
About New York Times
(
Free Report)
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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