Rhumbline Advisers Boosts Holdings in The New York Times Company (NYSE:NYT)

Rhumbline Advisers boosted its position in The New York Times Company (NYSE:NYT) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 507,888 shares of the company’s stock after buying an additional 6,793 shares during the period. Rhumbline Advisers owned approximately 0.31% of New York Times worth $26,436,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Figure 8 Investment Strategies LLC purchased a new position in New York Times in the 4th quarter valued at $492,000. Van ECK Associates Corp boosted its position in shares of New York Times by 37.1% during the 4th quarter. Van ECK Associates Corp now owns 129,988 shares of the company’s stock worth $6,766,000 after purchasing an additional 35,189 shares in the last quarter. Portfolio Design Labs LLC purchased a new stake in shares of New York Times during the 4th quarter worth $202,000. Entropy Technologies LP purchased a new stake in shares of New York Times during the 4th quarter worth $312,000. Finally, D Orazio & Associates Inc. purchased a new stake in shares of New York Times during the 4th quarter worth $222,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Stock Up 0.6 %

NYSE NYT opened at $49.47 on Thursday. The stock has a market cap of $8.11 billion, a PE ratio of 27.79, a P/E/G ratio of 1.78 and a beta of 1.01. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The business has a 50 day moving average price of $52.35 and a two-hundred day moving average price of $53.80.

New York Times (NYSE:NYT) last announced its earnings results 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 return on equity of 18.51% and a net margin of 11.36%. Sell-side analysts anticipate that The New York Times Company will post 2.08 EPS 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 given a dividend of $0.18 per share. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio is currently 40.45%.

Analyst Ratings Changes

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

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.