Kestra Investment Management LLC Acquires Shares of 6,497 The New York Times Company (NYSE:NYT)

Kestra Investment Management LLC bought a new position in shares of The New York Times Company (NYSE:NYT) during the fourth quarter, Holdings Channel reports. The firm bought 6,497 shares of the company’s stock, valued at approximately $338,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning raised its position in New York Times by 5.0% in the third quarter. Creative Planning now owns 10,903 shares of the company’s stock worth $607,000 after acquiring an additional 520 shares during the period. Blue Trust Inc. increased its stake in shares of New York Times by 147.7% during the 3rd quarter. Blue Trust Inc. now owns 5,568 shares of the company’s stock worth $285,000 after purchasing an additional 3,320 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of New York Times by 5,467.1% in the 3rd quarter. International Assets Investment Management LLC now owns 25,052 shares of the company’s stock worth $1,395,000 after purchasing an additional 24,602 shares during the period. Assenagon Asset Management S.A. lifted its stake 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 purchasing an additional 308,277 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in New York Times by 8.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 13,226 shares of the company’s stock valued at $736,000 after purchasing an additional 1,053 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Up 0.6 %

NYT stock opened at $49.47 on Thursday. The stock has a 50-day simple moving average of $52.35 and a two-hundred day simple moving average of $53.80. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $58.16. The firm has a market capitalization of $8.11 billion, a PE ratio of 27.79, a PEG ratio of 1.78 and a beta of 1.01.

New York Times (NYSE:NYT) last issued its quarterly earnings data 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 net margin of 11.36% and a return on equity of 18.51%. On average, equities research analysts anticipate that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend 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%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NYT. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley lowered their price objective on 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. Deutsche Bank Aktiengesellschaft increased their target price 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. Finally, JPMorgan Chase & Co. boosted their price target 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. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, New York Times has an average 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.