Stevens Capital Management LP Purchases New Shares in The New York Times Company (NYSE:NYT)

Stevens Capital Management LP acquired a new stake in shares of The New York Times Company (NYSE:NYT) in the 4th quarter, Holdings Channel.com reports. The fund acquired 3,920 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of New York Times by 2.0% during the third quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock valued at $338,168,000 after purchasing an additional 118,479 shares in the last quarter. State Street Corp grew its stake in shares of New York Times by 0.7% in the third quarter. State Street Corp now owns 4,785,844 shares of the company’s stock worth $266,428,000 after acquiring an additional 32,905 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of New York Times by 4.1% during the third quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock valued at $218,978,000 after acquiring an additional 154,509 shares in the last quarter. Franklin Resources Inc. raised its position in shares of New York Times by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after purchasing an additional 49,853 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in New York Times by 228.3% in the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock worth $132,040,000 after purchasing an additional 1,764,078 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NYT shares. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley decreased their price objective on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

New York Times Stock Down 0.1 %

Shares of NYT stock opened at $48.62 on Tuesday. The company has a 50 day moving average price of $50.16 and a 200-day moving average price of $52.81. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16. The firm has a market capitalization of $7.94 billion, a PE ratio of 27.31, a P/E/G ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. Analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current 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. This is an increase from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.48%. New York Times’s dividend payout ratio is currently 40.45%.

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.