Confluence Wealth Services Inc. Grows Stock Holdings in The New York Times Company (NYSE:NYT)

Confluence Wealth Services Inc. grew its holdings in The New York Times Company (NYSE:NYT) by 20.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,119 shares of the company’s stock after acquiring an additional 4,020 shares during the period. Confluence Wealth Services Inc.’s holdings in New York Times were worth $1,290,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of New York Times during the 4th quarter valued at approximately $417,000. Trust Point Inc. purchased a new position in New York Times during the fourth quarter worth $292,000. Hixon Zuercher LLC increased its position in New York Times by 4.4% during the fourth quarter. Hixon Zuercher LLC now owns 13,052 shares of the company’s stock valued at $679,000 after acquiring an additional 556 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of New York Times by 60.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 128,136 shares of the company’s stock valued at $6,669,000 after acquiring an additional 48,329 shares during the period. Finally, R Squared Ltd bought a new stake in shares of New York Times in the 4th quarter worth about $377,000. 95.37% of the stock is currently owned by institutional investors.

New York Times Stock Up 2.1 %

Shares of NYSE NYT opened at $56.00 on Wednesday. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $58.16. The business has a fifty day simple moving average of $53.49 and a two-hundred day simple moving average of $54.10. The firm has a market cap of $9.18 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01.

New York Times (NYSE:NYT) last released its quarterly earnings data 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 net margin of 11.04% and a return on equity of 17.75%. On average, research analysts expect that The New York Times Company will post 1.84 earnings per share for the current year.

New York Times Increases Dividend

The firm also recently disclosed 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. This is an increase 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 1.29%. New York Times’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analyst Weigh In

NYT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.