Moors & Cabot Inc. Cuts Holdings in The New York Times Company (NYSE:NYT)

Moors & Cabot Inc. decreased its position in The New York Times Company (NYSE:NYT) by 5.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,650 shares of the company’s stock after selling 250 shares during the period. Moors & Cabot Inc.’s holdings in New York Times were worth $242,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. increased its stake in shares of New York Times by 4.3% during the third quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock worth $260,000 after purchasing an additional 193 shares in the last quarter. Brown Financial Advisors increased its stake in shares of New York Times by 2.3% during the fourth quarter. Brown Financial Advisors now owns 8,996 shares of the company’s stock worth $468,000 after purchasing an additional 200 shares in the last quarter. IFP Advisors Inc increased its stake in shares of New York Times by 0.7% during the fourth quarter. IFP Advisors Inc now owns 34,368 shares of the company’s stock worth $1,789,000 after purchasing an additional 224 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after purchasing an additional 247 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of New York Times by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 5,092 shares of the company’s stock worth $265,000 after purchasing an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Trading Up 2.3 %

Shares of NYSE NYT opened at $48.92 on Monday. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $58.16. The stock has a market cap of $7.99 billion, a PE ratio of 27.48, a P/E/G ratio of 1.75 and a beta of 1.18. The company has a 50-day moving average of $50.52 and a 200 day moving average of $53.05.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, beating 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%. On average, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.47%. This is a positive change from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. New York Times’s payout ratio is presently 40.45%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NYT. 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 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.