Achmea Investment Management B.V. Reduces Stake in The New York Times Company (NYSE:NYT)

Achmea Investment Management B.V. cut its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 268,373 shares of the company's stock after selling 22,722 shares during the quarter. Achmea Investment Management B.V. owned approximately 0.16% of New York Times worth $13,969,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Swiss National Bank boosted its stake in New York Times by 0.7% in the 4th quarter. Swiss National Bank now owns 305,400 shares of the company's stock worth $15,896,000 after purchasing an additional 2,100 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in New York Times in the 4th quarter worth approximately $369,000. Jupiter Asset Management Ltd. bought a new position in New York Times in the 4th quarter worth approximately $5,827,000. Daiwa Securities Group Inc. boosted its position in shares of New York Times by 24.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 18,870 shares of the company's stock valued at $982,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of New York Times by 35.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,439 shares of the company's stock valued at $2,729,000 after acquiring an additional 13,804 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. StockNews.com upgraded New York Times from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Morgan Stanley decreased their target price 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.00.

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New York Times Stock Up 2.3 %

Shares of NYT stock traded up $1.10 on Friday, hitting $48.92. The stock had a trading volume of 1,233,387 shares, compared to its average volume of 1,196,690. The business has a 50 day moving average price of $50.52 and a 200 day moving average price of $53.06. The company has a market cap of $7.99 billion, a PE ratio of 27.48, a P/E/G ratio of 1.75 and a beta of 1.18. The New York Times Company has a one year low of $41.55 and a one year high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, beating 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%. Equities research analysts expect that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.47%. The ex-dividend date is Tuesday, April 1st. This is a positive change from New York Times's previous quarterly dividend of $0.13. New York Times's payout ratio is 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.