Raymond James Financial Inc. Takes Position in The New York Times Company (NYSE:NYT)

Raymond James Financial Inc. acquired a new position in shares of The New York Times Company (NYSE:NYT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 29,673 shares of the company's stock, valued at approximately $1,544,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its stake in shares of New York Times by 4.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company's stock worth $260,000 after purchasing an additional 193 shares during the period. Brown Financial Advisors increased its stake in New York Times by 2.3% in the fourth quarter. Brown Financial Advisors now owns 8,996 shares of the company's stock valued at $468,000 after purchasing an additional 200 shares during the last quarter. IFP Advisors Inc lifted its position in New York Times by 0.7% during the fourth quarter. IFP Advisors Inc now owns 34,368 shares of the company's stock worth $1,789,000 after buying an additional 224 shares during the period. Smartleaf Asset Management LLC boosted its stake 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 buying an additional 247 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in New York Times by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 5,092 shares of the company's stock valued at $265,000 after buying an additional 269 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NYT. Morgan Stanley cut their price objective on shares of New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. StockNews.com upgraded shares of New York Times from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, New York Times currently has an average rating of "Moderate Buy" and an average target price of $56.00.

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New York Times Price Performance

NYT stock traded down $0.87 during midday trading on Thursday, reaching $48.74. 1,859,179 shares of the company's stock traded hands, compared to its average volume of 1,270,935. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The business has a 50-day moving average price of $49.77 and a two-hundred day moving average price of $52.64. The company has a market capitalization of $7.96 billion, a P/E ratio of 27.38, a PEG ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating 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%. As a group, research analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be given a $0.18 dividend. This is an increase from New York Times's previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. New York Times's dividend payout ratio is presently 40.45%.

New York Times 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.