Commonwealth Equity Services LLC Buys 401 Shares of The New York Times Company (NYSE:NYT)

Commonwealth Equity Services LLC lifted its stake in shares of The New York Times Company (NYSE:NYT) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,752 shares of the company’s stock after acquiring an additional 401 shares during the period. Commonwealth Equity Services LLC’s holdings in New York Times were worth $924,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. raised its position in New York Times by 13.5% during the third quarter. Citigroup Inc. now owns 82,481 shares of the company’s stock valued at $4,592,000 after purchasing an additional 9,820 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of New York Times by 10.8% during the 3rd quarter. Cerity Partners LLC now owns 15,999 shares of the company’s stock valued at $891,000 after buying an additional 1,556 shares in the last quarter. FMR LLC lifted its position in New York Times by 41.9% in the 3rd quarter. FMR LLC now owns 524,032 shares of the company’s stock worth $29,173,000 after buying an additional 154,822 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in New York Times by 95.3% in the third quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock worth $4,571,000 after buying an additional 40,058 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in New York Times by 18.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,635 shares of the company’s stock valued at $2,151,000 after acquiring an additional 6,068 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NYT. Morgan Stanley lowered 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 report on Thursday, February 6th. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

New York Times Stock Performance

Shares of New York Times stock opened at $50.21 on Wednesday. The company’s 50 day moving average price is $49.84 and its 200-day moving average price is $52.66. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last released 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%. As a group, equities research 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 declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.43%. New York Times’s dividend payout ratio is presently 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.