Los Angeles Capital Management LLC Sells 2,347 Shares of The New York Times Company (NYSE:NYT)

Los Angeles Capital Management LLC decreased its position in shares of The New York Times Company (NYSE:NYT) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 222,828 shares of the company’s stock after selling 2,347 shares during the quarter. Los Angeles Capital Management LLC’s holdings in New York Times were worth $11,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. grew its holdings in shares of New York Times by 61.4% during the fourth quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after purchasing an additional 283 shares during the last quarter. GAMMA Investing LLC grew its holdings in New York Times by 20.2% during the 4th quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock worth $131,000 after acquiring an additional 424 shares during the last quarter. Portfolio Design Labs LLC acquired a new position in New York Times in the 4th quarter valued at approximately $202,000. Empower Advisory Group LLC bought a new position in shares of New York Times during the third quarter valued at $205,000. Finally, Synergy Financial Group LTD acquired a new position in shares of New York Times during the third quarter worth $217,000. Institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

NYT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley decreased their price target on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. increased their target price on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, New York Times presently has an average rating of “Moderate Buy” and a consensus price target of $54.71.

New York Times Price Performance

Shares of New York Times stock opened at $47.68 on Thursday. The stock’s 50-day moving average is $51.68 and its 200 day moving average is $53.62. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.75 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its quarterly earnings results 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 return on equity of 18.51% and a net margin of 11.36%. On average, sell-side analysts expect 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 1.51%. 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.