The New York Times Company (NYSE:NYT) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC grew its holdings in shares of The New York Times Company (NYSE:NYT) by 236.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,985 shares of the company’s stock after purchasing an additional 9,823 shares during the period. Park Avenue Securities LLC’s holdings in New York Times were worth $728,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NYT. Darsana Capital Partners LP raised its holdings in New York Times by 25.0% in the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock valued at $320,062,000 after acquiring an additional 1,250,000 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in New York Times by 582.1% in the third quarter. Assenagon Asset Management S.A. now owns 361,235 shares of the company’s stock valued at $20,110,000 after acquiring an additional 308,277 shares in the last quarter. Bank of Montreal Can raised its holdings in New York Times by 964.9% in the second quarter. Bank of Montreal Can now owns 266,079 shares of the company’s stock valued at $13,637,000 after acquiring an additional 241,093 shares in the last quarter. Clark & Stuart Inc acquired a new stake in New York Times in the fourth quarter valued at approximately $8,490,000. Finally, FMR LLC raised its holdings in New York Times by 41.9% in the third quarter. FMR LLC now owns 524,032 shares of the company’s stock valued at $29,173,000 after acquiring an additional 154,822 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

New York Times stock opened at $52.57 on Wednesday. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The business has a fifty day moving average of $53.44 and a two-hundred day moving average of $54.02. The company has a market cap of $8.62 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 1.48 and a beta of 1.00.

New York Times (NYSE:NYT) last released its quarterly earnings results 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 business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS. Sell-side analysts predict that The New York Times Company will post 1.84 EPS for the current year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 9th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, January 10th. New York Times’s dividend payout ratio is presently 30.77%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised 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. JPMorgan Chase & Co. lifted their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

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.