Allspring Global Investments Holdings LLC Purchases 165,457 Shares of The New York Times Company (NYSE:NYT)

Allspring Global Investments Holdings LLC increased its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 47,273.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,807 shares of the company's stock after buying an additional 165,457 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of New York Times worth $8,123,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in NYT. Contravisory Investment Management Inc. acquired a new stake in shares of New York Times in the 4th quarter valued at $27,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of New York Times in the 3rd quarter valued at $37,000. Compass Wealth Management LLC acquired a new stake in shares of New York Times in the 4th quarter valued at $30,000. Belpointe Asset Management LLC boosted its holdings in shares of New York Times by 31.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,510 shares of the company's stock valued at $59,000 after purchasing an additional 365 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of New York Times in the 3rd quarter valued at $63,000. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Trading Up 0.4 %

NYSE:NYT traded up $0.16 during trading hours on Thursday, hitting $41.77. 738,715 shares of the company were exchanged, compared to its average volume of 1,284,448. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of 29.93 and a beta of 1.01. The New York Times Company has a one year low of $35.06 and a one year high of $49.87. The company has a fifty day simple moving average of $43.43 and a 200 day simple moving average of $44.69.

New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.10. The business had revenue of $676.20 million during the quarter, compared to analyst estimates of $680.02 million. New York Times had a return on equity of 16.48% and a net margin of 9.58%. New York Times's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. Equities research analysts predict that The New York Times Company will post 1.64 earnings per share for the current fiscal year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd will be given a dividend of $0.13 per share. This is a positive change from New York Times's previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 1.24%. The ex-dividend date is Monday, April 1st. New York Times's dividend payout ratio (DPR) is currently 37.41%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NYT. Citigroup assumed coverage on New York Times in a report on Tuesday, March 12th. They issued a "buy" rating and a $52.00 target price on the stock. StockNews.com upgraded New York Times from a "hold" rating to a "buy" rating in a research note on Wednesday, March 20th. Finally, Argus upgraded New York Times from a "hold" rating to a "buy" rating and set a $51.00 price target for the company in a research note on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, New York Times presently has an average rating of "Moderate Buy" and an average target price of $45.67.

Insider Buying and Selling

In other New York Times news, EVP Diane Brayton sold 7,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the sale, the executive vice president now directly owns 39,312 shares in the company, valued at approximately $1,684,126.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other New York Times news, EVP Diane Brayton sold 7,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the sale, the executive vice president now directly owns 39,312 shares in the company, valued at approximately $1,684,126.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David S. Perpich sold 3,014 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the sale, the director now owns 20,813 shares of the company's stock, valued at $916,396.39. The disclosure for this sale can be found here. Insiders sold a total of 23,557 shares of company stock valued at $1,029,968 in the last three months. Insiders own 2.00% of the company's stock.

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.