The New York Times Company (NYSE:NYT) Position Decreased by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC lowered its position in The New York Times Company (NYSE:NYT - Free Report) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 542,340 shares of the company's stock after selling 16,280 shares during the quarter. New York Times accounts for approximately 1.5% of Reynders McVeigh Capital Management LLC's holdings, making the stock its 23rd biggest holding. Reynders McVeigh Capital Management LLC owned about 0.33% of New York Times worth $28,229,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NYT. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock worth $25,000 after purchasing an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of New York Times in the 4th quarter worth approximately $36,000. UMB Bank n.a. raised its position in shares of New York Times by 61.4% during 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 in the last quarter. Smartleaf Asset Management LLC lifted its stake in New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock worth $60,000 after purchasing an additional 247 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after purchasing an additional 212 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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New York Times Price Performance

Shares of NYSE NYT traded up $0.25 during midday trading on Tuesday, reaching $48.74. 1,112,674 shares of the company traded hands, compared to its average volume of 1,297,606. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.75 and a beta of 1.10. The stock has a 50-day moving average price of $48.49 and a 200 day moving average price of $52.09. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16.

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

New York Times Increases Dividend

The company 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 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 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. New York Times's dividend payout ratio (DPR) is presently 40.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NYT shares. StockNews.com raised shares of New York Times from a "hold" rating to a "buy" rating in a research report on Friday. Morgan Stanley dropped their target price on New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, New York Times currently has an average rating of "Moderate Buy" and a consensus 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.