Parallel Advisors LLC Reduces Position in The New York Times Company (NYSE:NYT)

Parallel Advisors LLC decreased its holdings in The New York Times Company (NYSE:NYT) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,396 shares of the company’s stock after selling 524 shares during the period. Parallel Advisors LLC’s holdings in New York Times were worth $333,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UMB Bank n.a. grew its stake in New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after buying an additional 283 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of New York Times by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after purchasing an additional 247 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 424 shares during the period. Portfolio Design Labs LLC purchased a new stake in New York Times during the 4th quarter worth about $202,000. Finally, Synergy Financial Group LTD bought a new position in New York Times in the 3rd quarter worth about $217,000. Institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

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

New York Times Trading Up 0.3 %

NYT stock opened at $48.72 on Friday. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $58.16. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The company’s 50 day moving average is $50.21 and its 200 day moving average is $52.86.

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

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be issued a $0.18 dividend. This is a boost 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 1.48%. The ex-dividend date of this dividend is Tuesday, April 1st. New York Times’s dividend payout ratio is presently 40.45%.

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.