Bank of New York Mellon Corp Boosts Stock Holdings in The New York Times Company (NYSE:NYT)

Bank of New York Mellon Corp increased its position in shares of The New York Times Company (NYSE:NYT) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,681,384 shares of the company’s stock after buying an additional 159,073 shares during the period. Bank of New York Mellon Corp owned 1.03% of New York Times worth $87,516,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. lifted its position in shares of New York Times by 4.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock valued at $260,000 after buying an additional 193 shares in the last quarter. Brown Financial Advisors raised its position in New York Times by 2.3% during the fourth quarter. Brown Financial Advisors now owns 8,996 shares of the company’s stock worth $468,000 after acquiring an additional 200 shares during the period. IFP Advisors Inc lifted its holdings in New York Times by 0.7% during the fourth quarter. IFP Advisors Inc now owns 34,368 shares of the company’s stock valued at $1,789,000 after purchasing an additional 224 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of New York Times by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 5,092 shares of the company’s stock valued at $265,000 after purchasing an additional 269 shares during the period. Finally, UMB Bank n.a. grew its position 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 valued at $39,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

NYT has been the topic of a number of research reports. Morgan Stanley decreased their price target on shares of 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. Deutsche Bank Aktiengesellschaft increased their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.71.

New York Times Stock Performance

NYSE 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 firm has a market capitalization of $7.88 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 1.75 and a beta of 1.01. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, beating 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, sell-side 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 paid a $0.18 dividend. This is a boost from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend 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.