Trillium Asset Management LLC Trims Stock Holdings in The New York Times Company (NYSE:NYT)

Trillium Asset Management LLC reduced its stake in The New York Times Company (NYSE:NYT) by 4.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 165,850 shares of the company’s stock after selling 6,934 shares during the period. Trillium Asset Management LLC’s holdings in New York Times were worth $8,633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. grew its position in New York Times by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after acquiring an additional 49,853 shares in the last quarter. BNP Paribas Financial Markets grew 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 valued at $4,571,000 after acquiring an additional 40,058 shares in the last quarter. Clark & Stuart Inc acquired a new position in New York Times in the 4th quarter valued at about $8,490,000. Park Avenue Securities LLC grew 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 valued at $728,000 after acquiring an additional 9,823 shares in the last quarter. Finally, Figure 8 Investment Strategies LLC acquired a new position in New York Times in the 4th quarter valued at about $492,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Stock Performance

Shares of New York Times stock opened at $48.69 on Wednesday. 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 cap of $7.95 billion, a PE ratio of 27.35, a P/E/G ratio of 1.75 and a beta of 1.18. The business has a 50-day simple moving average of $50.37 and a 200-day simple moving average of $52.96.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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, sell-side analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Increases Dividend

The firm also recently declared 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 yield of 1.48%. This is an increase from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio is 40.45%.

Wall Street Analyst Weigh In

NYT has been the subject of several research reports. 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. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.00.

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.