Jupiter Asset Management Ltd. Makes New Investment in The New York Times Company (NYSE:NYT)

Jupiter Asset Management Ltd. purchased a new position in shares of The New York Times Company (NYSE:NYT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 111,951 shares of the company’s stock, valued at approximately $5,827,000. Jupiter Asset Management Ltd. owned approximately 0.07% of New York Times at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Daiwa Securities Group Inc. boosted its position in New York Times by 24.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 18,870 shares of the company’s stock worth $982,000 after purchasing an additional 3,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of New York Times by 35.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,439 shares of the company’s stock valued at $2,729,000 after acquiring an additional 13,804 shares in the last quarter. Amundi lifted its position in shares of New York Times by 243.9% in the fourth quarter. Amundi now owns 118,783 shares of the company’s stock valued at $6,171,000 after acquiring an additional 84,247 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of New York Times in the fourth quarter valued at approximately $4,307,000. Finally, Raymond James Financial Inc. purchased a new position in shares of New York Times in the fourth quarter valued at approximately $1,544,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Performance

NYSE:NYT opened at $47.79 on Friday. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The stock has a market cap of $7.80 billion, a PE ratio of 26.85, a P/E/G ratio of 1.75 and a beta of 1.18. The stock has a 50 day moving average price of $50.60 and a 200 day moving average price of $53.12.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. As a group, analysts predict that The New York Times Company will post 2.08 earnings per share 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 dividend of $0.18 per share. This is a boost from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 1.51%. New York Times’s dividend payout ratio (DPR) is 40.45%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley decreased their target price 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 report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.00.

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.