The New York Times Company (NYSE:NYT) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its stake in The New York Times Company (NYSE:NYT) by 70.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 982,659 shares of the company’s stock after buying an additional 404,558 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in New York Times were worth $51,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Franklin Resources Inc. boosted its position in shares of 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 purchasing an additional 49,853 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of New York Times by 95.3% in the third 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 during the period. Clark & Stuart Inc purchased a new position in shares of New York Times during the fourth quarter worth approximately $8,490,000. Park Avenue Securities LLC increased its holdings in shares of 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 during the period. Finally, Proficio Capital Partners LLC purchased a new stake in New York Times in the 4th quarter valued at $1,200,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Up 1.2 %

NYSE NYT opened at $50.21 on Wednesday. The stock has a market capitalization of $8.20 billion, a P/E ratio of 28.21, a P/E/G ratio of 1.75 and a beta of 1.18. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16. The firm has a 50-day moving average price of $49.84 and a 200 day moving average price of $52.66.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate 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, equities research analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal 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 dividend of $0.18 per share. 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.43%. New York Times’s dividend payout ratio is 40.45%.

Analysts Set New Price Targets

Several research analysts have issued reports on NYT shares. Morgan Stanley lowered 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 research report on Thursday, February 6th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, New York Times has a consensus rating of “Moderate Buy” and a consensus 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.