The New York Times Company (NYSE:NYT) Shares Purchased by Capital World Investors

Capital World Investors increased its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,062,981 shares of the company's stock after purchasing an additional 6,889 shares during the quarter. Capital World Investors owned approximately 0.65% of New York Times worth $55,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brown Financial Advisors increased its position in New York Times by 2.3% during the 4th quarter. Brown Financial Advisors now owns 8,996 shares of the company's stock worth $468,000 after purchasing an additional 200 shares in the last quarter. Bessemer Group Inc. increased its position in New York Times by 12.6% during the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock worth $99,000 after purchasing an additional 212 shares in the last quarter. IFP Advisors Inc grew its holdings in New York Times by 0.7% in the 4th quarter. IFP Advisors Inc now owns 34,368 shares of the company's stock valued at $1,789,000 after buying an additional 224 shares during the period. Natixis Advisors LLC grew its holdings in New York Times by 1.2% in the 4th quarter. Natixis Advisors LLC now owns 19,187 shares of the company's stock valued at $999,000 after buying an additional 228 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock valued at $60,000 after buying an additional 247 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NYT. StockNews.com upgraded New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Morgan Stanley lowered their price target on New York Times from $56.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $56.00.

New York Times Stock Up 1.2 %

Shares of NYSE NYT traded up $0.63 during midday trading on Friday, hitting $51.24. The stock had a trading volume of 1,182,948 shares, compared to its average volume of 1,315,327. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of 28.79, a PEG ratio of 1.75 and a beta of 1.10. The New York Times Company has a 1-year low of $42.71 and a 1-year high of $58.16. The company has a fifty day moving average price of $48.52 and a 200 day moving average price of $51.78.

New York Times (NYSE:NYT - Get Free Report) last released its quarterly earnings data 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 return on equity of 18.51% and a net margin of 11.36%. On average, research analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st were paid a $0.18 dividend. This is a positive change from New York Times's previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Tuesday, April 1st. New York Times's payout ratio is currently 40.45%.

About New York Times

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.