New York State Common Retirement Fund Sells 4,500 Shares of The New York Times Company (NYSE:NYT)

New York State Common Retirement Fund lessened its holdings in shares of The New York Times Company (NYSE:NYT) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 385,608 shares of the company’s stock after selling 4,500 shares during the quarter. New York State Common Retirement Fund owned approximately 0.24% of New York Times worth $20,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Creative Planning lifted its position in New York Times by 5.0% during the third quarter. Creative Planning now owns 10,903 shares of the company’s stock valued at $607,000 after purchasing an additional 520 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of New York Times by 5,467.1% during the 3rd quarter. International Assets Investment Management LLC now owns 25,052 shares of the company’s stock valued at $1,395,000 after buying an additional 24,602 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of New York Times by 582.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 361,235 shares of the company’s stock valued at $20,110,000 after acquiring an additional 308,277 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of New York Times by 8.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 13,226 shares of the company’s stock valued at $736,000 after acquiring an additional 1,053 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in New York Times by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 19,039 shares of the company’s stock worth $1,059,000 after acquiring an additional 1,285 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NYT. JPMorgan Chase & Co. lifted their price target on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price 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. Morgan Stanley lowered their price objective 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. Finally, StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.71.

New York Times Stock Down 1.6 %

Shares of NYT stock opened at $47.99 on Friday. The company’s fifty day simple moving average is $52.07 and its two-hundred day simple moving average is $53.74. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16. The stock has a market cap of $7.87 billion, a P/E ratio of 26.96, a PEG ratio of 1.75 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, February 5th. The company reported $0.80 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, analysts anticipate 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. Investors of record on Tuesday, April 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. 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 dividend yield of 1.50%. New York Times’s dividend payout ratio (DPR) is 29.21%.

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.