Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in The New York Times Company (NYSE:NYT)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in The New York Times Company (NYSE:NYT) by 18.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,635 shares of the company’s stock after acquiring an additional 6,068 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in New York Times were worth $2,151,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. lifted 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 worth $26,000 after purchasing an additional 360 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of New York Times by 129.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after buying an additional 792 shares during the period. Signaturefd LLC lifted its position in New York Times by 34.2% during the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after acquiring an additional 432 shares in the last quarter. Blue Trust Inc. boosted its holdings in New York Times by 401.8% in the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after acquiring an additional 1,800 shares during the period. Finally, Paladin Wealth LLC acquired a new stake in New York Times in the third quarter valued at approximately $172,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on NYT shares. JPMorgan Chase & Co. boosted their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays lifted their target price on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. One research 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, the company has an average rating of “Moderate Buy” and an average target price of $54.83.

New York Times Price Performance

Shares of NYT stock opened at $53.94 on Wednesday. The firm has a market cap of $8.84 billion, a P/E ratio of 31.92, a P/E/G ratio of 1.72 and a beta of 1.00. The firm has a fifty day moving average of $54.78 and a two-hundred day moving average of $53.35. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $57.08.

New York Times (NYSE:NYT) last posted its quarterly 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 business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same period last year, the firm earned $0.37 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts expect that The New York Times Company will post 1.84 EPS for the current year.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio is presently 30.77%.

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.