LGT Group Foundation Acquires 87,119 Shares of The New York Times Company (NYSE:NYT)

LGT Group Foundation boosted its stake in shares of The New York Times Company (NYSE:NYT) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,004,811 shares of the company’s stock after acquiring an additional 87,119 shares during the quarter. LGT Group Foundation owned about 0.61% of New York Times worth $52,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. lifted its stake in shares of New York Times by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after purchasing an additional 49,853 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in shares of New York Times by 3.2% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company’s stock valued at $25,721,000 after purchasing an additional 14,407 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of New York Times by 95.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock valued at $4,571,000 after purchasing an additional 40,058 shares during the last quarter. Clark & Stuart Inc bought a new stake in shares of New York Times in the 4th quarter valued at approximately $8,490,000. Finally, Park Avenue Securities LLC lifted its stake in shares of New York Times by 236.0% in the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock valued at $728,000 after purchasing an additional 9,823 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NYT shares. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley decreased 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. Finally, 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 note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.71.

New York Times Stock Up 0.4 %

NYT opened at $48.05 on Monday. The stock’s fifty day moving average is $51.48 and its two-hundred day moving average is $53.53. The company has a market capitalization of $7.88 billion, a P/E ratio of 26.99, a PEG ratio of 1.75 and a beta of 1.01. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16.

New York Times (NYSE:NYT) last released its quarterly earnings data 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 return on equity of 18.51% and a net margin of 11.36%. Equities analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The company also recently disclosed 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 is an increase from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, April 1st. New York Times’s dividend payout ratio (DPR) 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.