Victory Capital Management Inc. Acquires 31,096 Shares of The New York Times Company (NYSE:NYT)

Victory Capital Management Inc. raised its holdings in shares of The New York Times Company (NYSE:NYT - Free Report) by 63.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,167 shares of the company's stock after acquiring an additional 31,096 shares during the quarter. Victory Capital Management Inc.'s holdings in New York Times were worth $4,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. GSA Capital Partners LLP purchased a new position in New York Times during the third quarter valued at $482,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of New York Times during the 3rd quarter valued at about $445,000. Empower Advisory Group LLC bought a new position in shares of New York Times during the 3rd quarter valued at approximately $205,000. KBC Group NV increased its holdings in New York Times by 0.4% in the 3rd quarter. KBC Group NV now owns 75,917 shares of the company's stock worth $4,226,000 after acquiring an additional 308 shares in the last quarter. Finally, Comgest Global Investors S.A.S. raised its stake in New York Times by 3.2% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company's stock worth $25,721,000 after acquiring an additional 14,407 shares during the period. Institutional investors own 95.37% of the company's stock.

New York Times Price Performance

Shares of NYT stock traded up $1.10 during mid-day trading on Friday, hitting $48.92. The company had a trading volume of 1,233,387 shares, compared to its average volume of 1,196,690. The stock's 50 day moving average price is $50.52 and its 200-day moving average price is $53.06. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16. The company has a market capitalization of $7.99 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.75 and a beta of 1.18.

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New York Times (NYSE:NYT - Get Free Report) last announced 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 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 company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is 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 yield of 1.47%. New York Times's dividend payout ratio is presently 40.45%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Morgan Stanley cut their price target 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.