Public Employees Retirement Association of Colorado Sells 1,371 Shares of The New York Times Company (NYSE:NYT)

Public Employees Retirement Association of Colorado cut its holdings in The New York Times Company (NYSE:NYT) by 8.5% during the fourth quarter, HoldingsChannel reports. The firm owned 14,710 shares of the company’s stock after selling 1,371 shares during the period. Public Employees Retirement Association of Colorado’s holdings in New York Times were worth $766,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Baillie Gifford & Co. increased its position in New York Times by 228.3% in the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock worth $132,040,000 after buying an additional 1,764,078 shares during the period. Alliancebernstein L.P. increased its position in New York Times by 87.6% during the fourth quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company’s stock worth $99,336,000 after acquiring an additional 891,249 shares during the period. Renaissance Technologies LLC raised its stake in New York Times by 13.3% during the 4th quarter. Renaissance Technologies LLC now owns 3,570,380 shares of the company’s stock valued at $185,838,000 after purchasing an additional 418,155 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in New York Times by 70.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 982,659 shares of the company’s stock valued at $51,147,000 after purchasing an additional 404,558 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in New York Times by 17.7% in the 4th quarter. Invesco Ltd. now owns 2,145,748 shares of the company’s stock valued at $111,686,000 after purchasing an additional 322,141 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on NYT shares. Morgan Stanley cut 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 research report on Thursday, February 6th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Stock Performance

NYSE:NYT opened at $51.74 on Friday. The company has a 50-day moving average of $48.77 and a 200-day moving average of $51.72. The New York Times Company has a 52 week low of $43.33 and a 52 week high of $58.16. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.75 and a beta of 1.10.

New York Times (NYSE:NYT) last released its quarterly earnings data 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%. Sell-side analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This is a boost 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 1.39%. New York Times’s dividend payout ratio (DPR) is presently 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.