Mirae Asset Global Investments Co. Ltd. Acquires Shares of 7,943 The New York Times Company (NYSE:NYT)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of The New York Times Company (NYSE:NYT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,943 shares of the company’s stock, valued at approximately $417,000.

A number of other hedge funds have also modified their holdings of NYT. UMB Bank n.a. lifted its holdings in New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of New York Times by 20.2% in the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock worth $131,000 after buying an additional 424 shares during the last quarter. Empower Advisory Group LLC bought a new stake in shares of New York Times during the 3rd quarter worth $205,000. Synergy Financial Group LTD acquired a new position in New York Times in the 3rd quarter valued at $217,000. Finally, Summit Global Investments bought a new position in New York Times in the 3rd quarter worth $220,000. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Stock Up 1.7 %

New York Times stock opened at $50.38 on Thursday. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 1.35 and a beta of 1.01. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $58.16. The business’s 50-day simple moving average is $53.02 and its 200 day simple moving average is $53.94.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts expect that The New York Times Company will post 2.07 EPS for the current year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be paid 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 1.43%. New York Times’s dividend payout ratio (DPR) is presently 29.21%.

Analysts Set New Price Targets

Several brokerages have recently issued reports 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 on the stock in a research note on Thursday, February 6th. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. increased their target price on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and an average price target 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.