Oppenheimer & Co. Inc. trimmed its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 80.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,010 shares of the company's stock after selling 24,131 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in New York Times were worth $313,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. UMB Bank n.a. increased 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 valued at $39,000 after acquiring an additional 283 shares during the period. GAMMA Investing LLC raised its position in New York Times by 20.2% during the 4th quarter. GAMMA Investing LLC now owns 2,526 shares of the company's stock worth $131,000 after purchasing an additional 424 shares during the last quarter. Portfolio Design Labs LLC acquired a new position in New York Times during the 4th quarter worth about $202,000. Empower Advisory Group LLC bought a new stake in shares of New York Times in the 3rd quarter valued at about $205,000. Finally, Synergy Financial Group LTD acquired a new stake in shares of New York Times in the third quarter valued at about $217,000. Institutional investors own 95.37% of the company's stock.
New York Times Price Performance
Shares of New York Times stock traded down $0.93 during trading on Wednesday, reaching $47.83. 1,978,744 shares of the company traded hands, compared to its average volume of 1,864,955. The firm has a market capitalization of $7.81 billion, a PE ratio of 26.87, a P/E/G ratio of 1.75 and a beta of 1.18. 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 50 day moving average price of $50.78 and a 200-day moving average price of $53.20.
New York Times (NYSE:NYT - Get Free Report) last announced 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%. Equities research 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This is an increase from New York Times's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.51%. New York Times's payout ratio is currently 40.45%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of 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. StockNews.com upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $55.33.
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New York Times Company Profile
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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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