MetLife Investment Management LLC Raises Position in The New York Times Company (NYSE:NYT)

MetLife Investment Management LLC increased its stake in The New York Times Company (NYSE:NYT - Free Report) by 8.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,940 shares of the company's stock after purchasing an additional 7,509 shares during the quarter. MetLife Investment Management LLC owned 0.06% of New York Times worth $4,785,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock valued at $25,000 after buying an additional 394 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in shares of New York Times during the 4th quarter valued at $36,000. UMB Bank n.a. increased its stake in shares of New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company's stock worth $39,000 after purchasing an additional 283 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock worth $60,000 after purchasing an additional 247 shares during the period. Finally, Bessemer Group Inc. lifted its position in New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after purchasing an additional 212 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

New York Times Stock Performance

Shares of New York Times stock traded up $0.16 on Monday, hitting $51.37. 1,382,456 shares of the company traded hands, compared to its average volume of 1,315,595. The business has a 50-day simple moving average of $48.52 and a 200 day simple moving average of $51.78. The New York Times Company has a 52 week low of $42.71 and a 52 week high of $58.16. The stock has a market capitalization of $8.39 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating 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%. 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 announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.18 per share. This is an increase from New York Times's previous quarterly dividend of $0.13. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Tuesday, April 1st. New York Times's dividend payout ratio is currently 40.45%.

Wall Street Analyst Weigh In

A number of analysts have commented on NYT shares. Morgan Stanley reduced 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 report on Thursday, February 6th. StockNews.com upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

New York Times Company 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.