The New York Times Company (NYSE:NYT) Stock Position Raised by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in shares of The New York Times Company (NYSE:NYT) by 37.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,988 shares of the company’s stock after purchasing an additional 35,189 shares during the period. Van ECK Associates Corp owned approximately 0.08% of New York Times worth $6,766,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. UMB Bank n.a. lifted 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 worth $39,000 after acquiring an additional 283 shares in the last quarter. GAMMA Investing LLC lifted its position in New York Times by 20.2% in the 4th quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock worth $131,000 after buying an additional 424 shares in the last quarter. Portfolio Design Labs LLC acquired a new stake in shares of New York Times during the 4th quarter valued at $202,000. Empower Advisory Group LLC purchased a new position in shares of New York Times during the 3rd quarter valued at $205,000. Finally, Synergy Financial Group LTD purchased a new stake in shares of New York Times during the third quarter worth $217,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NYT shares. Morgan Stanley dropped their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. raised their price target on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.71.

New York Times Stock Down 2.0 %

New York Times stock opened at $49.74 on Tuesday. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $58.16. The stock has a market cap of $8.15 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The business has a 50 day moving average price of $52.72 and a two-hundred day moving average price of $53.87.

New York Times (NYSE:NYT) last announced its quarterly earnings data 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 net margin of 11.36% and a return on equity of 18.51%. On average, analysts expect that The New York Times Company will post 2.07 earnings per share for the current fiscal 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 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 1.45%. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio (DPR) is currently 29.21%.

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.