Comgest Global Investors S.A.S. Boosts Stake in The New York Times Company (NYSE:NYT)

Comgest Global Investors S.A.S. raised its position in The New York Times Company (NYSE:NYT) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 462,032 shares of the company’s stock after purchasing an additional 14,407 shares during the quarter. Comgest Global Investors S.A.S. owned 0.28% of New York Times worth $25,721,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NYT. UMB Bank n.a. boosted its stake in shares of New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after purchasing an additional 792 shares in the last quarter. Signaturefd LLC boosted its stake in shares of New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after purchasing an additional 432 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of New York Times by 401.8% during the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Paladin Wealth LLC bought a new position in shares of New York Times during the third quarter valued at approximately $172,000. 95.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NYT shares. JPMorgan Chase & Co. increased their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Barclays increased their target price on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

New York Times Trading Down 3.2 %

Shares of NYSE NYT traded down $1.76 during midday trading on Friday, reaching $52.46. The company had a trading volume of 1,492,826 shares, compared to its average volume of 1,116,364. The business’s 50-day simple moving average is $54.84 and its 200 day simple moving average is $52.67. The stock has a market cap of $8.62 billion, a P/E ratio of 31.04, a P/E/G ratio of 1.73 and a beta of 1.02. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $57.08.

New York Times (NYSE:NYT) last issued its earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The firm had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. During the same quarter last year, the company posted $0.37 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. Analysts predict that The New York Times Company will post 1.84 earnings per share for the current year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.99%. New York Times’s dividend payout ratio is presently 30.77%.

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.