The New York Times Company (NYSE:NYT) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in The New York Times Company (NYSE:NYT - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 156,592 shares of the company's stock after acquiring an additional 6,501 shares during the period. Envestnet Asset Management Inc. owned 0.10% of New York Times worth $8,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of New York Times by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company's stock valued at $187,544,000 after purchasing an additional 49,853 shares during the last quarter. Clark & Stuart Inc bought a new position in shares of New York Times in the fourth quarter worth $8,490,000. Park Avenue Securities LLC increased its stake in New York Times by 236.0% in the fourth quarter. Park Avenue Securities LLC now owns 13,985 shares of the company's stock valued at $728,000 after acquiring an additional 9,823 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in New York Times in the fourth quarter worth about $1,200,000. Finally, Figure 8 Investment Strategies LLC purchased a new stake in New York Times in the fourth quarter worth $492,000. Institutional investors own 95.37% of the company's stock.

New York Times Stock Performance

New York Times stock traded up $0.15 during midday trading on Thursday, hitting $50.59. 142,999 shares of the company's stock were exchanged, compared to its average volume of 1,306,219. The New York Times Company has a 12 month low of $42.33 and a 12 month high of $58.16. The firm has a 50-day moving average of $48.46 and a two-hundred day moving average of $51.88. The company has a market cap of $8.26 billion, a PE ratio of 28.42, a P/E/G ratio of 1.75 and a beta of 1.10.

New York Times (NYSE:NYT - Get Free Report) last announced 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 return on equity of 18.51% and a net margin of 11.36%. As a group, equities 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 business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 1st were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This is a positive change from New York Times's previous quarterly dividend of $0.13. This represents a $0.72 dividend on an annualized basis and a yield of 1.42%. New York Times's dividend payout ratio (DPR) is currently 40.45%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Morgan Stanley reduced 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. StockNews.com upgraded New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $56.00.

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.