T. Rowe Price Investment Management Inc. lessened its stake in The New York Times Company (NYSE:NYT - Free Report) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,694,544 shares of the company's stock after selling 552,550 shares during the quarter. T. Rowe Price Investment Management Inc. owned 5.91% of New York Times worth $504,602,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in New York Times by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company's stock worth $822,408,000 after acquiring an additional 63,856 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of New York Times by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company's stock valued at $210,084,000 after purchasing an additional 102,519 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of New York Times by 13.3% during the 4th quarter. Renaissance Technologies LLC now owns 3,570,380 shares of the company's stock worth $185,838,000 after purchasing an additional 418,155 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of New York Times by 0.7% during the fourth quarter. Franklin Resources Inc. now owns 3,376,517 shares of the company's stock worth $175,748,000 after purchasing an additional 22,725 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in New York Times by 228.3% in the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company's stock valued at $132,040,000 after buying an additional 1,764,078 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on NYT. Morgan Stanley decreased their price target on New York Times from $56.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. StockNews.com upgraded New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.00.
View Our Latest Report on New York Times
New York Times Price Performance
Shares of NYT opened at $50.12 on Wednesday. The firm has a fifty day moving average price of $48.45 and a 200 day moving average price of $51.89. The stock has a market cap of $8.18 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10. The New York Times Company has a 1-year low of $42.33 and a 1-year high of $58.16.
New York Times (NYSE:NYT - Get Free Report) last posted its earnings results 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%. As a group, equities analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.
New York Times Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.18 per share. 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 dividend yield of 1.44%. New York Times's dividend payout ratio (DPR) is 40.45%.
About New York Times
(
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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