Counterpoint Mutual Funds LLC Buys 15,790 Shares of The New York Times Company (NYSE:NYT)

Counterpoint Mutual Funds LLC lifted its stake in shares of The New York Times Company (NYSE:NYT) by 84.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,405 shares of the company’s stock after acquiring an additional 15,790 shares during the quarter. New York Times makes up 0.2% of Counterpoint Mutual Funds LLC’s holdings, making the stock its 22nd biggest holding. Counterpoint Mutual Funds LLC’s holdings in New York Times were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in NYT. GSA Capital Partners LLP bought a new stake in New York Times in the third quarter valued at $482,000. Sumitomo Mitsui Trust Group Inc. bought a new position in New York Times in the third quarter worth approximately $445,000. KBC Group NV grew its stake in New York Times by 0.4% in the third quarter. KBC Group NV now owns 75,917 shares of the company’s stock valued at $4,226,000 after acquiring an additional 308 shares during the period. Thrivent Financial for Lutherans increased its holdings 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 acquiring an additional 63,677 shares in the last quarter. Finally, Quest Partners LLC raised its position in shares of New York Times by 9.8% during the third quarter. Quest Partners LLC now owns 39,736 shares of the company’s stock worth $2,212,000 after purchasing an additional 3,542 shares during the period. 95.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com upgraded 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 stock. According to MarketBeat.com, New York Times has an average rating of “Moderate Buy” and an average price target of $56.00.

New York Times Stock Performance

NYT stock opened at $48.92 on Monday. The company’s 50 day moving average price is $50.52 and its two-hundred day moving average price is $53.05. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The company has a market capitalization of $7.99 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last announced its quarterly 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 return on equity of 18.51% and a net margin of 11.36%. On average, research analysts predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid 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 dividend on an annualized basis and a dividend yield of 1.47%. New York Times’s payout ratio is currently 40.45%.

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.