Northwest & Ethical Investments L.P. Purchases 29,500 Shares of The New York Times Company (NYSE:NYT)

Northwest & Ethical Investments L.P. boosted its position in shares of The New York Times Company (NYSE:NYT) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 299,989 shares of the company’s stock after acquiring an additional 29,500 shares during the period. Northwest & Ethical Investments L.P. owned approximately 0.18% of New York Times worth $15,614,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in New York Times by 1.5% during the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after acquiring an additional 49,853 shares during the period. BNP Paribas Financial Markets boosted its holdings in New York Times by 95.3% during the third quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock valued at $4,571,000 after purchasing an additional 40,058 shares in the last quarter. Clark & Stuart Inc acquired a new stake in New York Times during the fourth quarter valued at approximately $8,490,000. Park Avenue Securities LLC boosted its holdings in New York Times by 236.0% during the fourth quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock valued at $728,000 after purchasing an additional 9,823 shares in the last quarter. Finally, Figure 8 Investment Strategies LLC acquired a new stake in New York Times during the fourth quarter valued at approximately $492,000. 95.37% of the stock is currently owned by institutional investors.

New York Times Price Performance

Shares of NYT opened at $49.05 on Thursday. The company has a market capitalization of $8.01 billion, a P/E ratio of 27.55, a PEG ratio of 1.75 and a beta of 1.18. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The business’s 50 day simple moving average is $50.32 and its 200-day simple moving average is $52.94.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping 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%. On average, sell-side analysts anticipate that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This is an increase 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 1.47%. New York Times’s dividend payout ratio is currently 40.45%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley decreased their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.