Assetmark Inc. Boosts Position in The New York Times Company (NYSE:NYT)

Assetmark Inc. boosted its holdings in shares of The New York Times Company (NYSE:NYT) by 5.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,995 shares of the company’s stock after buying an additional 2,679 shares during the quarter. Assetmark Inc.’s holdings in New York Times were worth $2,498,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. grew its stake 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 worth $39,000 after purchasing an additional 283 shares during the period. Smartleaf Asset Management LLC grew its stake 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 worth $60,000 after purchasing an additional 247 shares during the period. GAMMA Investing LLC grew its stake 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 worth $131,000 after purchasing an additional 424 shares during the period. Portfolio Design Labs LLC acquired a new stake in shares of New York Times during the 4th quarter worth approximately $202,000. Finally, Empower Advisory Group LLC acquired a new stake in shares of New York Times during the 3rd quarter worth approximately $205,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Performance

New York Times stock opened at $49.25 on Monday. The company’s fifty day moving average price is $50.90 and its 200 day moving average price is $53.28. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The stock has a market capitalization of $8.04 billion, a P/E ratio of 27.67, a P/E/G ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last released its quarterly earnings results 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 net margin of 11.36% and a return on equity of 18.51%. Sell-side analysts predict that The New York Times Company will post 2.08 EPS for the current 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 dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.46%. The ex-dividend date is Tuesday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s payout ratio is 40.45%.

Wall Street Analysts Forecast Growth

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

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.