Geode Capital Management LLC Acquires 102,519 Shares of The New York Times Company (NYSE:NYT)

Geode Capital Management LLC raised its holdings in shares of The New York Times Company (NYSE:NYT) by 2.6% during the fourth quarter, HoldingsChannel reports. The fund owned 4,035,335 shares of the company’s stock after purchasing an additional 102,519 shares during the quarter. Geode Capital Management LLC’s holdings in New York Times were worth $210,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in New York Times by 511.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock valued at $25,000 after buying an additional 394 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in shares of New York Times during the 4th quarter valued at $36,000. UMB Bank n.a. increased its holdings in shares of New York Times by 61.4% in the fourth quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after purchasing an additional 283 shares during the period. Smartleaf Asset Management LLC raised its position in shares of New York Times by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after buying an additional 247 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in New York Times by 20.2% during the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock valued at $131,000 after buying an additional 424 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley decreased their target price on 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 cut shares of New York Times from a “buy” rating to a “hold” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Trading Down 2.5 %

Shares of New York Times stock opened at $47.54 on Monday. The business’s 50-day moving average price is $49.56 and its 200-day moving average price is $52.53. The firm has a market capitalization of $7.76 billion, a PE ratio of 26.71, a price-to-earnings-growth 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.

New York Times (NYSE:NYT) last posted its quarterly 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 predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Increases Dividend

The firm also recently declared 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 represents a $0.72 annualized dividend and a yield of 1.51%. This is a positive change from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio is presently 40.45%.

New York Times 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.