Arizona State Retirement System Boosts Stock Position in The New York Times Company (NYSE:NYT)

Arizona State Retirement System boosted its holdings in The New York Times Company (NYSE:NYT) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 45,064 shares of the company’s stock after acquiring an additional 330 shares during the period. Arizona State Retirement System’s holdings in New York Times were worth $2,346,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UMB Bank n.a. lifted its position in shares of New York Times by 61.4% during the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after buying an additional 283 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after buying an additional 247 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of New York Times by 20.2% during the 4th quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock valued at $131,000 after buying an additional 424 shares during the last quarter. Empower Advisory Group LLC purchased a new position in shares of New York Times during the 3rd quarter valued at $205,000. Finally, Portfolio Design Labs LLC purchased a new position in shares of New York Times during the 4th quarter valued at $202,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley dropped their price target on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.33.

New York Times Stock Performance

NYSE:NYT opened at $49.74 on Tuesday. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16. The firm has a market cap of $8.12 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 1.75 and a beta of 1.18. The business’s fifty day moving average is $50.84 and its 200 day moving average is $53.24.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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 analysts predict that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be paid a $0.18 dividend. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio is currently 40.45%.

About New York Times

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.