Citigroup Inc. Grows Stake in The New York Times Company (NYSE:NYT)

Citigroup Inc. grew its holdings in shares of The New York Times Company (NYSE:NYT) by 13.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,481 shares of the company’s stock after purchasing an additional 9,820 shares during the period. Citigroup Inc. owned approximately 0.05% of New York Times worth $4,592,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Comerica Bank lifted its stake in shares of New York Times by 15.6% during the first quarter. Comerica Bank now owns 83,282 shares of the company’s stock worth $3,599,000 after buying an additional 11,234 shares during the period. Comgest Global Investors S.A.S. raised its stake in New York Times by 3.2% in 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 last quarter. Tidal Investments LLC lifted its position in New York Times by 391.9% during the 1st quarter. Tidal Investments LLC now owns 25,009 shares of the company’s stock worth $1,081,000 after acquiring an additional 19,925 shares during the period. Algert Global LLC grew its stake in New York Times by 17.2% during the 2nd quarter. Algert Global LLC now owns 106,623 shares of the company’s stock valued at $5,460,000 after purchasing an additional 15,655 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of New York Times by 1,126.6% in the second quarter. SG Americas Securities LLC now owns 60,555 shares of the company’s stock valued at $3,101,000 after purchasing an additional 55,618 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Barclays lifted their price target on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

New York Times Price Performance

NYT opened at $54.18 on Tuesday. The business has a 50 day simple moving average of $54.80 and a 200-day simple moving average of $53.31. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $57.08. The stock has a market capitalization of $8.88 billion, a P/E ratio of 32.06, a P/E/G ratio of 1.72 and a beta of 1.02.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. New York Times’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 earnings per share. Research analysts anticipate that The New York Times Company will post 1.84 EPS for the current year.

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.96%. New York Times’s dividend payout ratio is presently 30.77%.

About New York Times

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.