Allspring Global Investments Holdings LLC Reduces Position in The New York Times Company (NYSE:NYT)

Allspring Global Investments Holdings LLC decreased its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 91,877 shares of the company's stock after selling 13,109 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of New York Times worth $4,806,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. raised its stake in shares of New York Times by 4.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company's stock valued at $260,000 after purchasing an additional 193 shares in the last quarter. UMB Bank n.a. grew 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 worth $39,000 after purchasing an additional 283 shares during the last quarter. KBC Group NV boosted its holdings in shares of New York Times by 0.4% in the third quarter. KBC Group NV now owns 75,917 shares of the company's stock valued at $4,226,000 after acquiring an additional 308 shares in the last quarter. Hixon Zuercher LLC boosted its holdings in shares of New York Times by 2.9% in the third quarter. Hixon Zuercher LLC now owns 12,496 shares of the company's stock valued at $696,000 after acquiring an additional 354 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of New York Times by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 14,122 shares of the company's stock valued at $735,000 after acquiring an additional 355 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Stock Performance

Shares of NYT traded down $0.94 during mid-day trading on Friday, reaching $47.82. The company had a trading volume of 782,617 shares, compared to its average volume of 1,747,960. The company's 50 day simple moving average is $52.22 and its 200 day simple moving average is $53.76. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $58.16. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 26.86, a P/E/G ratio of 1.77 and a beta of 1.01.

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 net margin of 11.36% and a return on equity of 18.51%. As a group, equities 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend 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 29.21%.

Wall Street Analysts Forecast Growth

NYT has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Morgan Stanley dropped their price target on shares of 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. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $54.71.

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.