B. Riley Wealth Advisors Inc. Buys 1,890 Shares of The New York Times Company (NYSE:NYT)

B. Riley Wealth Advisors Inc. raised its stake in The New York Times Company (NYSE:NYT) by 34.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,441 shares of the company’s stock after purchasing an additional 1,890 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in New York Times were worth $414,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in shares of New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after buying an additional 49,853 shares during the period. Comgest Global Investors S.A.S. raised its holdings in 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 acquiring an additional 14,407 shares in the last quarter. BNP Paribas Financial Markets lifted its position 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 worth $4,571,000 after acquiring an additional 40,058 shares during the period. Algert Global LLC grew its holdings in shares of New York Times by 17.2% during the 2nd quarter. Algert Global LLC now owns 106,623 shares of the company’s stock worth $5,460,000 after purchasing an additional 15,655 shares in the last quarter. Finally, Bailard Inc. bought a new stake in shares of New York Times during the second quarter valued at approximately $205,000. 95.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NYT has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised their target price 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. JPMorgan Chase & Co. lifted their target price on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

New York Times Price Performance

New York Times stock opened at $53.27 on Friday. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16. The stock has a fifty day moving average price of $54.74 and a two-hundred day moving average price of $53.73. The firm has a market capitalization of $8.73 billion, a P/E ratio of 31.52, a P/E/G ratio of 1.75 and a beta of 1.00.

New York Times (NYSE:NYT) last announced its earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.37 EPS. On average, equities research analysts predict that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.98%. New York Times’s dividend payout ratio (DPR) is currently 30.77%.

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.