Proficio Capital Partners LLC Takes Position in The New York Times Company (NYSE:NYT)

Proficio Capital Partners LLC acquired a new stake in The New York Times Company (NYSE:NYT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 23,060 shares of the company’s stock, valued at approximately $1,200,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NYT. Farther Finance Advisors LLC increased its holdings in New York Times by 826.2% during the third quarter. Farther Finance Advisors LLC now owns 5,872 shares of the company’s stock worth $327,000 after buying an additional 5,238 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of New York Times by 40.0% in the third quarter. Van ECK Associates Corp now owns 94,799 shares of the company’s stock valued at $5,162,000 after acquiring an additional 27,088 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of New York Times by 166.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 79,807 shares of the company’s stock valued at $4,443,000 after acquiring an additional 49,890 shares during the period. Summit Global Investments bought a new stake in shares of New York Times in the third quarter valued at about $220,000. Finally, AIA Group Ltd boosted its position in shares of New York Times by 11.8% in the third quarter. AIA Group Ltd now owns 90,535 shares of the company’s stock valued at $5,040,000 after acquiring an additional 9,524 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Trading Up 4.0 %

NYT opened at $49.25 on Friday. The company’s 50 day moving average is $50.90 and its 200-day moving average is $53.30. The company has a market cap of $8.07 billion, a P/E ratio of 27.67, a PEG ratio of 1.75 and a beta of 1.01. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $58.16.

New York Times (NYSE:NYT) last issued 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, equities analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This is a positive change from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 1.46%. New York Times’s dividend payout ratio (DPR) is presently 40.45%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. 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 shares of New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.33.

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.