Algert Global LLC Increases Position in The New York Times Company (NYSE:NYT)

Algert Global LLC lifted its holdings in shares of The New York Times Company (NYSE:NYT) by 61.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 202,095 shares of the company’s stock after buying an additional 76,972 shares during the period. Algert Global LLC’s holdings in New York Times were worth $10,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NYT. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of New York Times by 511.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock valued at $25,000 after purchasing an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in New York Times in the 4th quarter valued at $36,000. UMB Bank n.a. increased its stake in New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after buying an additional 283 shares during the period. Smartleaf Asset Management LLC raised its position in New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after buying an additional 247 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of New York Times by 12.6% in the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after acquiring an additional 212 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Morgan Stanley reduced their price target on 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Trading Up 1.1 %

NYT stock opened at $52.32 on Friday. The firm has a 50 day moving average of $48.86 and a 200-day moving average of $51.67. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 1.75 and a beta of 1.16. The New York Times Company has a 12-month low of $44.70 and a 12-month high of $58.16.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping 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%. Sell-side analysts forecast that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Increases Dividend

The firm also recently announced 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. This is an increase from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.38%. The ex-dividend date was Tuesday, April 1st. New York Times’s dividend payout ratio (DPR) is 40.45%.

New York Times Company 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.