Bank of Montreal Can Sells 70,401 Shares of The New York Times Company (NYSE:NYT)

Bank of Montreal Can trimmed its holdings in The New York Times Company (NYSE:NYT - Free Report) by 72.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,631 shares of the company's stock after selling 70,401 shares during the quarter. Bank of Montreal Can's holdings in New York Times were worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Financial Advisors lifted its stake in New York Times by 2.3% in the fourth quarter. Brown Financial Advisors now owns 8,996 shares of the company's stock valued at $468,000 after buying an additional 200 shares during the period. IFP Advisors Inc lifted its position in shares of New York Times by 0.7% during the 4th quarter. IFP Advisors Inc now owns 34,368 shares of the company's stock valued at $1,789,000 after acquiring an additional 224 shares during the period. Natixis Advisors LLC boosted its stake in New York Times by 1.2% during the fourth quarter. Natixis Advisors LLC now owns 19,187 shares of the company's stock worth $999,000 after acquiring an additional 228 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in New York Times by 27.7% in 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 period. Finally, CIBC Asset Management Inc increased its stake in New York Times by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 5,092 shares of the company's stock valued at $265,000 after purchasing an additional 269 shares in the last quarter. Institutional investors own 95.37% of the company's stock.

New York Times Price Performance

Shares of NYT stock traded up $1.07 during trading hours on Wednesday, reaching $51.19. The company had a trading volume of 440,372 shares, compared to its average volume of 1,801,469. The business has a fifty day simple moving average of $48.45 and a 200-day simple moving average of $51.89. The New York Times Company has a 12 month low of $42.33 and a 12 month high of $58.16. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10.

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 (EPS) for the quarter, topping 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%. On average, 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Tuesday, April 1st. This is an increase from New York Times's previous quarterly dividend of $0.13. New York Times's dividend payout ratio is 40.45%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports 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, April 11th. Morgan Stanley reduced their price objective on New York Times from $56.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Two 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.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $56.00.

New York Times 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.