IFP Advisors Inc Increases Stake in The New York Times Company (NYSE:NYT)

IFP Advisors Inc raised its stake in shares of The New York Times Company (NYSE:NYT) by 0.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,368 shares of the company’s stock after buying an additional 224 shares during the quarter. IFP Advisors Inc’s holdings in New York Times were worth $1,789,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in New York Times by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after buying an additional 49,853 shares in the last quarter. Comgest Global Investors S.A.S. grew its holdings in shares of New York Times by 3.2% during the third quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company’s stock worth $25,721,000 after purchasing an additional 14,407 shares in the last quarter. BNP Paribas Financial Markets lifted its position in New York Times by 95.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock worth $4,571,000 after buying an additional 40,058 shares during the last quarter. Clark & Stuart Inc bought a new stake in New York Times in the 4th quarter worth approximately $8,490,000. Finally, Park Avenue Securities LLC lifted its position in New York Times by 236.0% in the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock worth $728,000 after buying an additional 9,823 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of NYT stock opened at $47.85 on Wednesday. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The stock has a 50 day moving average price of $51.92 and a two-hundred day moving average price of $53.71. The company has a market capitalization of $7.84 billion, a P/E ratio of 26.88, a PEG ratio of 1.75 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (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 analysts predict that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.50%. New York Times’s payout ratio is 40.45%.

Wall Street Analyst Weigh In

NYT has been the subject of a number of recent research reports. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft boosted their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley dropped their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and a consensus 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.