Prudential Financial Inc. lowered its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 16.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 64,810 shares of the company's stock after selling 13,072 shares during the period. Prudential Financial Inc.'s holdings in New York Times were worth $3,399,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mountain Hill Investment Partners Corp. bought a new stake in New York Times during the fourth quarter worth $36,000. UMB Bank n.a. boosted its holdings in New York Times by 61.4% during the 4th quarter. UMB Bank n.a. now owns 744 shares of the company's stock worth $39,000 after acquiring an additional 283 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of 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 acquiring an additional 247 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of New York Times by 20.2% in the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company's stock valued at $131,000 after purchasing an additional 424 shares during the last quarter. Finally, Portfolio Design Labs LLC purchased a new stake in shares of New York Times in the fourth quarter valued at about $202,000. 95.37% of the stock is owned by institutional investors.
New York Times Stock Down 2.5 %
Shares of NYSE NYT traded down $1.21 during mid-day trading on Friday, reaching $47.54. 2,467,022 shares of the company were exchanged, compared to its average volume of 1,275,681. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16. The company's 50 day moving average price is $49.68 and its 200 day moving average price is $52.62. The stock has a market capitalization of $7.76 billion, a PE ratio of 26.71, a PEG ratio of 1.75 and a beta of 1.18.
New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share 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%. On average, sell-side analysts predict that The New York Times Company will post 2.08 earnings per share 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 dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.51%. This is a positive change from New York Times's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. New York Times's dividend payout ratio (DPR) is presently 40.45%.
Analysts Set New Price Targets
A number of brokerages have issued reports on NYT. StockNews.com downgraded shares of New York Times from a "buy" rating to a "hold" rating in a research report on Thursday. Morgan Stanley reduced their target price on New York Times from $56.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, New York Times has a consensus rating of "Moderate Buy" and a consensus target price of $56.00.
Read Our Latest Stock Analysis on NYT
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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