Proficio Capital Partners LLC Buys New Stake in The New York Times Company (NYSE:NYT)

Proficio Capital Partners LLC bought a new stake in shares of The New York Times Company (NYSE:NYT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,060 shares of the company's stock, valued at approximately $1,200,000.

Several other institutional investors and hedge funds have also bought and sold shares of NYT. UMB Bank n.a. increased its position in New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company's stock valued at $39,000 after acquiring an additional 283 shares during the period. GAMMA Investing LLC raised its stake in New York Times by 20.2% during the 4th quarter. GAMMA Investing LLC now owns 2,526 shares of the company's stock worth $131,000 after buying an additional 424 shares during the period. Empower Advisory Group LLC acquired a new stake in New York Times in the 3rd quarter valued at $205,000. Portfolio Design Labs LLC bought a new position in New York Times in the 4th quarter valued at about $202,000. Finally, Synergy Financial Group LTD bought a new position in shares of New York Times in the third quarter valued at approximately $217,000. Institutional investors own 95.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NYT. Morgan Stanley lowered their target price 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. StockNews.com upgraded New York Times from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $55.33.

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New York Times Stock Performance

Shares of NYT traded down $0.98 during mid-day trading on Tuesday, hitting $48.74. 1,691,114 shares of the company traded hands, compared to its average volume of 1,864,563. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The stock has a 50-day moving average price of $50.84 and a two-hundred day moving average price of $53.24. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 1.75 and a beta of 1.18.

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 analysts' consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. On average, analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 1.48%. This is a positive change from New York Times's previous quarterly dividend of $0.13. New York Times's dividend payout ratio (DPR) is currently 40.45%.

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.