Kestra Investment Management LLC Makes New Investment in The New York Times Company (NYSE:NYT)

Kestra Investment Management LLC purchased a new position in The New York Times Company (NYSE:NYT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,497 shares of the company's stock, valued at approximately $338,000.

A number of other institutional investors have also made changes to their positions in the business. CIBC Asset Management Inc increased its stake in shares of New York Times by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 5,092 shares of the company's stock worth $265,000 after purchasing an additional 269 shares during the period. Baillie Gifford & Co. increased its stake in shares of New York Times by 228.3% in the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company's stock worth $132,040,000 after purchasing an additional 1,764,078 shares during the period. Rhumbline Advisers increased its stake in shares of New York Times by 1.4% in the fourth quarter. Rhumbline Advisers now owns 507,888 shares of the company's stock worth $26,436,000 after purchasing an additional 6,793 shares during the period. Figure 8 Investment Strategies LLC bought a new position in shares of New York Times in the fourth quarter worth about $492,000. Finally, Van ECK Associates Corp increased its stake in shares of New York Times by 37.1% in the fourth quarter. Van ECK Associates Corp now owns 129,988 shares of the company's stock worth $6,766,000 after purchasing an additional 35,189 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NYT has been the topic of several research reports. Morgan Stanley lowered their price target on New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. boosted their price target on New York Times from $58.00 to $62.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. StockNews.com upgraded New York Times from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on New York Times from $65.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $54.71.

New York Times Stock Performance

NYSE NYT traded down $0.82 during trading on Friday, reaching $47.94. 1,027,696 shares of the company traded hands, compared to its average volume of 1,754,177. The stock's 50 day moving average price is $52.22 and its two-hundred day moving average price is $53.76. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 1.77 and a beta of 1.01. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last announced 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 return on equity of 18.51% and a net margin of 11.36%. Equities research analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be 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 1.50%. The ex-dividend date of this dividend is Tuesday, April 1st. New York Times's payout ratio is presently 29.21%.

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.