Alliancebernstein L.P. Purchases 891,249 Shares of The New York Times Company (NYSE:NYT)

Alliancebernstein L.P. boosted its position in The New York Times Company (NYSE:NYT) by 87.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,908,477 shares of the company’s stock after purchasing an additional 891,249 shares during the period. Alliancebernstein L.P.’s holdings in New York Times were worth $99,336,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC increased its stake in shares of New York Times by 62.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 24,634 shares of the company’s stock valued at $1,282,000 after buying an additional 9,463 shares during the period. Arrowstreet Capital Limited Partnership increased its position in New York Times by 70.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 982,659 shares of the company’s stock valued at $51,147,000 after acquiring an additional 404,558 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of New York Times by 27.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 51,623 shares of the company’s stock valued at $2,687,000 after acquiring an additional 11,262 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of New York Times during the fourth quarter worth $1,876,000. Finally, Norges Bank bought a new stake in shares of New York Times in the fourth quarter worth $13,823,000. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NYT has been the topic of several recent research reports. StockNews.com raised 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 New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

New York Times Trading Down 1.1 %

Shares of New York Times stock opened at $49.59 on Thursday. The company has a market cap of $8.10 billion, a P/E ratio of 27.86, a PEG ratio of 1.75 and a beta of 1.18. The business has a 50-day moving average price of $49.77 and a two-hundred day moving average price of $52.64. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $58.16.

New York Times (NYSE:NYT) last issued its earnings results 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 return on equity of 18.51% and a net margin of 11.36%. Equities research analysts forecast that The New York Times Company will post 2.08 EPS 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. Shareholders 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 1.45%. This is a boost 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 (DPR) 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.