Thrivent Financial for Lutherans Reduces Stake in The New York Times Company (NYSE:NYT)

Thrivent Financial for Lutherans cut its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 16.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 110,439 shares of the company's stock after selling 21,751 shares during the period. Thrivent Financial for Lutherans owned 0.07% of New York Times worth $5,748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NYT. UMB Bank n.a. raised its stake in New York Times by 61.4% in the fourth quarter. UMB Bank n.a. now owns 744 shares of the company's stock valued at $39,000 after purchasing an additional 283 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock valued at $60,000 after buying an additional 247 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 424 shares during the last quarter. Portfolio Design Labs LLC purchased a new position in New York Times in the fourth quarter worth $202,000. Finally, Synergy Financial Group LTD purchased a new stake in New York Times during the third quarter valued at about $217,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley reduced their price objective 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. StockNews.com raised shares of New York Times from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $56.00.

Remove Ads

New York Times Stock Performance

Shares of NYSE NYT traded down $0.01 during mid-day trading on Friday, hitting $48.97. The stock had a trading volume of 1,237,064 shares, compared to its average volume of 1,266,593. The business has a 50 day moving average price of $49.99 and a two-hundred day moving average price of $52.73. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The firm has a market cap of $8.00 billion, a P/E 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 announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 research analysts predict that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 1.47%. This is a boost from New York Times's previous quarterly dividend of $0.13. New York Times's payout ratio is 40.45%.

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.