Empower Advisory Group LLC Acquires New Stake in The New York Times Company (NYSE:NYT)

Empower Advisory Group LLC acquired a new stake in shares of The New York Times Company (NYSE:NYT) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,682 shares of the company’s stock, valued at approximately $205,000.

Other large investors have also made changes to their positions in the company. Oak Family Advisors LLC grew its position in shares of New York Times by 2.2% during the second quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock worth $547,000 after buying an additional 231 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in New York Times by 2.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock valued at $608,000 after buying an additional 247 shares during the period. Hixon Zuercher LLC raised its stake in shares of New York Times by 2.9% in the 3rd quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock worth $696,000 after buying an additional 354 shares in the last quarter. UMB Bank n.a. boosted its holdings in New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after buying an additional 360 shares in the last quarter. Finally, Capital Investment Counsel Inc increased its stake in New York Times by 1.7% in the 2nd quarter. Capital Investment Counsel Inc now owns 22,701 shares of the company’s stock worth $1,163,000 after purchasing an additional 380 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Price Performance

Shares of NYT stock opened at $52.46 on Friday. The stock has a market cap of $8.62 billion, a P/E ratio of 31.31, a P/E/G ratio of 1.73 and a beta of 1.02. The New York Times Company has a one year low of $41.55 and a one year high of $57.08. The company has a fifty day moving average price of $54.85 and a two-hundred day moving average price of $52.60.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The firm had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.37 EPS. As a group, equities research analysts anticipate that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.99%. New York Times’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analyst Weigh In

NYT has been the subject of a number of research analyst reports. Barclays increased their price target on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.83.

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.