The New York Times Company (NYSE:NYT) Stake Lowered by Farther Finance Advisors LLC

Farther Finance Advisors LLC reduced its stake in shares of The New York Times Company (NYSE:NYT) by 28.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,219 shares of the company’s stock after selling 1,653 shares during the period. Farther Finance Advisors LLC’s holdings in New York Times were worth $220,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in shares of New York Times in the 3rd quarter valued at $482,000. Sumitomo Mitsui Trust Group Inc. acquired a new stake in shares of New York Times in the 3rd quarter valued at $445,000. Thrivent Financial for Lutherans lifted its stake in shares of New York Times by 92.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 132,190 shares of the company’s stock valued at $7,359,000 after purchasing an additional 63,677 shares during the last quarter. Commerce Bank lifted its stake in shares of New York Times by 74.0% in the 3rd quarter. Commerce Bank now owns 12,988 shares of the company’s stock valued at $723,000 after purchasing an additional 5,523 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of New York Times by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,862,569 shares of the company’s stock valued at $103,689,000 after purchasing an additional 7,654 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NYT has been the subject of several analyst reports. Morgan Stanley reduced their price objective on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.00.

New York Times Price Performance

New York Times stock opened at $49.05 on Thursday. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 1.75 and a beta of 1.18. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The firm has a fifty day moving average price of $50.32 and a two-hundred day moving average price of $52.94.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping 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%. As a group, sell-side analysts expect that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

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

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.