Xponance Inc. Buys 2,243 Shares of The New York Times Company (NYSE:NYT)

Xponance Inc. increased its stake in shares of The New York Times Company (NYSE:NYT) by 9.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,950 shares of the company’s stock after purchasing an additional 2,243 shares during the quarter. Xponance Inc.’s holdings in New York Times were worth $1,351,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NYT. Thrivent Financial for Lutherans grew its stake in shares of New York Times by 92.9% during the third quarter. Thrivent Financial for Lutherans now owns 132,190 shares of the company’s stock valued at $7,359,000 after purchasing an additional 63,677 shares during the last quarter. Commerce Bank grew its stake in shares of New York Times by 74.0% during the third quarter. Commerce Bank now owns 12,988 shares of the company’s stock valued at $723,000 after purchasing an additional 5,523 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in New York Times by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,862,569 shares of the company’s stock valued at $103,689,000 after buying an additional 7,654 shares during the period. Citigroup Inc. lifted its holdings in New York Times by 13.5% in the third quarter. Citigroup Inc. now owns 82,481 shares of the company’s stock valued at $4,592,000 after buying an additional 9,820 shares during the period. Finally, Cerity Partners LLC lifted its holdings in New York Times by 10.8% in the third 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 during the period. 95.37% of the stock is owned by institutional investors.

New York Times Stock Performance

NYT opened at $48.72 on Friday. The firm’s fifty day moving average is $50.21 and its two-hundred day moving average is $52.86. The firm has a market cap of $7.96 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $58.16.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping 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%. Equities analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders 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 is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.48%. New York Times’s dividend payout ratio (DPR) is 40.45%.

Analysts Set New Price Targets

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

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.