Long Corridor Asset Management Ltd boosted its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 200.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,000 shares of the company's stock after buying an additional 60,000 shares during the period. New York Times accounts for about 3.5% of Long Corridor Asset Management Ltd's portfolio, making the stock its 9th largest holding. Long Corridor Asset Management Ltd owned 0.05% of New York Times worth $4,684,000 at the end of the most recent reporting period.
A number of other 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 4th quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company's stock worth $822,408,000 after purchasing an additional 63,856 shares in the last quarter. Wellington Management Group LLP lifted its position in New York Times by 2.0% during the third quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company's stock worth $338,168,000 after buying an additional 118,479 shares in the last quarter. State Street Corp boosted its stake in New York Times by 0.7% during the third quarter. State Street Corp now owns 4,785,844 shares of the company's stock worth $266,428,000 after buying an additional 32,905 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of New York Times by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company's stock worth $218,978,000 after acquiring an additional 154,509 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of New York Times by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company's stock worth $187,544,000 after acquiring an additional 49,853 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on NYT shares. Morgan Stanley dropped their price objective on shares of 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 shares of New York Times from a "hold" rating to a "buy" rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, New York Times has an average rating of "Moderate Buy" and a consensus target price of $56.00.
Check Out Our Latest Analysis on NYT
New York Times Price Performance
Shares of NYT stock traded down $0.01 during trading hours on Friday, hitting $48.97. The company had a trading volume of 1,237,064 shares, compared to its average volume of 1,265,305. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The company's fifty day moving average is $49.93 and its 200 day moving average is $52.71. The stock has a market capitalization of $8.00 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18.
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 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%. Equities analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Tuesday, April 1st. This is a boost from New York Times's previous quarterly dividend of $0.13. New York Times's dividend payout ratio is currently 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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