The New York Times Company (NYSE:NYT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in The New York Times Company (NYSE:NYT) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,877 shares of the company’s stock after selling 13,109 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of New York Times worth $4,806,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Portfolio Design Labs LLC acquired a new stake in shares of New York Times in the fourth quarter worth approximately $202,000. Entropy Technologies LP acquired a new stake in New York Times during the 4th quarter worth $312,000. D Orazio & Associates Inc. acquired a new stake in New York Times during the 4th quarter worth $222,000. Kingsview Wealth Management LLC acquired a new stake in New York Times during the 4th quarter worth $2,472,000. Finally, Generate Investment Management Ltd acquired a new stake in New York Times during the 4th quarter worth $4,628,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

NYT opened at $49.47 on Thursday. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The stock has a market capitalization 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 business’s 50 day moving average price is $52.35 and its 200 day moving average price is $53.80.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. 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 business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be given a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.46%. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio is presently 40.45%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NYT shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley lowered their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. boosted their price objective on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.71.

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.