AIA Group Ltd Lowers Stock Position in The New York Times Company (NYSE:NYT)

AIA Group Ltd reduced its holdings in The New York Times Company (NYSE:NYT) by 6.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 84,870 shares of the company’s stock after selling 5,665 shares during the quarter. AIA Group Ltd’s holdings in New York Times were worth $4,417,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of New York Times by 511.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock valued at $25,000 after purchasing an additional 394 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in New York Times during the fourth quarter worth about $36,000. UMB Bank n.a. increased its stake in New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after purchasing an additional 283 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in 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 during the last quarter. Finally, GAMMA Investing LLC boosted its position in New York Times by 20.2% during the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock worth $131,000 after purchasing an additional 424 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Price Performance

New York Times stock opened at $48.97 on Monday. The stock has a market capitalization of $8.00 billion, a P/E ratio of 27.51, a P/E/G ratio of 1.75 and a beta of 1.18. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $58.16. The firm’s 50-day moving average is $49.93 and its two-hundred day moving average is $52.71.

New York Times (NYSE:NYT) last released 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 net margin of 11.36% and a return on equity of 18.51%. As a group, analysts forecast that The New York Times Company will post 2.08 EPS 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 issued 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 dividend yield of 1.47%. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio is presently 40.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NYT. Morgan Stanley cut their price target on 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 upgraded 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.