Jacobs Levy Equity Management Inc. Boosts Stock Position in The New York Times Company (NYSE:NYT)

Jacobs Levy Equity Management Inc. raised its stake in The New York Times Company (NYSE:NYT) by 10.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,692 shares of the company’s stock after purchasing an additional 6,418 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in New York Times were worth $3,713,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. UMB Bank n.a. lifted its holdings in shares of 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 purchasing an additional 360 shares during the period. GAMMA Investing LLC increased its stake in shares of New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after acquiring an additional 792 shares during the period. Signaturefd LLC raised its holdings in New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after purchasing an additional 432 shares in the last quarter. Blue Trust Inc. lifted its position in New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after purchasing an additional 1,800 shares during the period. Finally, Paladin Wealth LLC purchased a new stake in New York Times in the 3rd quarter valued at approximately $172,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NYT. JPMorgan Chase & Co. increased their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.83.

New York Times Price Performance

Shares of NYSE:NYT opened at $56.23 on Friday. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $57.08. The firm has a market capitalization of $9.22 billion, a price-to-earnings ratio of 33.27, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The business’s 50 day simple moving average is $54.78 and its 200-day simple moving average is $53.41.

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

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.92%. New York Times’s dividend payout ratio (DPR) is currently 30.77%.

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.