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

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in The New York Times Company (NYSE:NYT) by 35.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,439 shares of the company’s stock after acquiring an additional 13,804 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in New York Times were worth $2,729,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in New York Times by 2.0% in the third quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock valued at $338,168,000 after purchasing an additional 118,479 shares during the period. State Street Corp increased its stake in New York Times by 0.7% in the third quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after purchasing an additional 32,905 shares during the period. Geode Capital Management LLC increased its stake in New York Times by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock valued at $218,978,000 after purchasing an additional 154,509 shares during the period. Franklin Resources Inc. increased its stake in New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after purchasing an additional 49,853 shares during the period. Finally, Baillie Gifford & Co. increased its stake in New York Times by 228.3% in the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock valued at $132,040,000 after purchasing an additional 1,764,078 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Up 2.3 %

Shares of New York Times stock opened at $48.92 on Friday. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16. The company’s 50-day simple moving average is $50.52 and its 200-day simple moving average is $53.06. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. Equities research analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.47%. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio is presently 40.45%.

Analysts Set New Price Targets

A number of research analysts have commented on NYT shares. Morgan Stanley dropped their price objective 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. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

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.