Cullinan Associates Inc. Has $7.16 Million Stake in The New York Times Company (NYSE:NYT)

Cullinan Associates Inc. cut its stake in shares of The New York Times Company (NYSE:NYT) by 15.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 137,457 shares of the company’s stock after selling 24,491 shares during the period. Cullinan Associates Inc.’s holdings in New York Times were worth $7,155,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings in New York Times by 356.4% during 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 last quarter. GAMMA Investing LLC grew its position in New York Times by 49.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock worth $117,000 after purchasing an additional 698 shares during the last quarter. Paladin Wealth LLC bought a new position in shares of New York Times during the 3rd quarter worth about $172,000. Empower Advisory Group LLC bought a new stake in shares of New York Times in the third quarter valued at about $205,000. Finally, Synergy Financial Group LTD acquired a new stake in New York Times during the third quarter worth about $217,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

NYT has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.83.

New York Times Stock Performance

Shares of NYT opened at $54.85 on Tuesday. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16. The business’s fifty day moving average is $53.50 and its 200-day moving average is $54.08. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 1.51 and a beta of 1.01.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. New York Times’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 EPS. As a group, research analysts forecast that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, January 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.95%. New York Times’s dividend payout ratio (DPR) is presently 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.