Generate Investment Management Ltd Invests $4.63 Million in The New York Times Company (NYSE:NYT)

Generate Investment Management Ltd acquired a new stake in The New York Times Company (NYSE:NYT) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,911 shares of the company’s stock, valued at approximately $4,628,000. Generate Investment Management Ltd owned about 0.05% of New York Times as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its position in New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC raised its holdings in New York Times by 49.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock valued at $117,000 after buying an additional 698 shares during the period. Paladin Wealth LLC acquired a new position in New York Times in the third quarter valued at about $172,000. Empower Advisory Group LLC purchased a new position in New York Times during the third quarter worth about $205,000. Finally, Synergy Financial Group LTD acquired a new stake in shares of New York Times during the third quarter valued at about $217,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. StockNews.com lowered shares of New York Times from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley cut 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. Finally, JPMorgan Chase & Co. raised their target price on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.71.

New York Times Trading Down 0.8 %

Shares of NYSE NYT opened at $48.79 on Friday. 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 $8.00 billion, a P/E ratio of 28.87, a PEG ratio of 1.51 and a beta of 1.01. The business’s fifty day simple moving average is $53.31 and its 200-day simple moving average is $54.06.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 17.75% and a net margin of 11.04%. On average, equities analysts forecast that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Increases Dividend

The company also recently declared 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 represents a $0.72 annualized dividend and a yield of 1.48%. The ex-dividend date is Tuesday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s payout ratio is 30.77%.

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.