Daiwa Securities Group Inc. Increases Stock Position in The New York Times Company (NYSE:NYT)

Daiwa Securities Group Inc. increased its position in The New York Times Company (NYSE:NYT) by 24.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 18,870 shares of the company’s stock after buying an additional 3,700 shares during the quarter. Daiwa Securities Group Inc.’s holdings in New York Times were worth $982,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NYT. UMB Bank n.a. boosted its stake in New York Times by 61.4% during the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after acquiring an additional 283 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after acquiring an additional 247 shares during the last quarter. GAMMA Investing LLC boosted its stake in New York Times by 20.2% during the 4th quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock valued at $131,000 after acquiring an additional 424 shares during the last quarter. Empower Advisory Group LLC bought a new position in New York Times during the 3rd quarter valued at $205,000. Finally, Portfolio Design Labs LLC bought a new position in New York Times during the 4th quarter valued at $202,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Stock Performance

New York Times stock opened at $48.92 on Friday. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The firm’s 50-day moving average is $50.52 and its 200-day moving average is $53.06. The company has a market cap of $7.99 billion, a P/E ratio of 27.48, a PEG ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share 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%. As a group, sell-side 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.47%. 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. New York Times’s dividend payout ratio (DPR) is 40.45%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NYT shares. Morgan Stanley reduced their price target on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.