Algert Global LLC Grows Stock Holdings in The New York Times Company (NYSE:NYT)

Algert Global LLC raised its position in shares of The New York Times Company (NYSE:NYT) by 17.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,123 shares of the company’s stock after purchasing an additional 18,500 shares during the period. Algert Global LLC owned approximately 0.08% of New York Times worth $6,966,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Oak Family Advisors LLC raised its position in New York Times by 2.2% during the second quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock valued at $547,000 after purchasing an additional 231 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in New York Times by 2.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock valued at $608,000 after purchasing an additional 247 shares in the last quarter. KBC Group NV raised its position in New York Times by 0.4% during the third quarter. KBC Group NV now owns 75,917 shares of the company’s stock valued at $4,226,000 after purchasing an additional 308 shares in the last quarter. Hixon Zuercher LLC raised its position in New York Times by 2.9% during the third quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock valued at $696,000 after purchasing an additional 354 shares in the last quarter. Finally, UMB Bank n.a. grew its stake 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 valued at $26,000 after buying an additional 360 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

NYSE NYT opened at $54.16 on Friday. The stock has a market capitalization of $8.88 billion, a PE ratio of 32.05, a PEG ratio of 1.69 and a beta of 1.02. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $57.08. The business’s 50-day moving average is $54.84 and its 200 day moving average is $52.96.

New York Times (NYSE:NYT) last posted its earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. The company had revenue of $640.20 million for 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%. New York Times’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. As a group, equities research 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. Investors of record on Wednesday, October 9th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. New York Times’s payout ratio is presently 30.77%.

Wall Street Analyst Weigh In

NYT has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Barclays raised their price objective on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, New York Times has an average rating of “Moderate Buy” and an average 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.