LGT Group Foundation Purchases 275,212 Shares of The New York Times Company (NYSE:NYT)

LGT Group Foundation raised its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 43.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 903,097 shares of the company's stock after acquiring an additional 275,212 shares during the period. New York Times makes up 1.0% of LGT Group Foundation's portfolio, making the stock its 24th biggest holding. LGT Group Foundation owned approximately 0.55% of New York Times worth $43,827,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Qube Research & Technologies Ltd lifted its holdings in New York Times by 232.9% in the third quarter. Qube Research & Technologies Ltd now owns 1,038,033 shares of the company's stock valued at $42,767,000 after buying an additional 726,231 shares during the period. TD Asset Management Inc bought a new position in New York Times during the third quarter worth about $10,992,000. Assenagon Asset Management S.A. bought a new stake in shares of New York Times in the third quarter worth about $7,556,000. Victory Capital Management Inc. raised its position in shares of New York Times by 579.1% during the fourth quarter. Victory Capital Management Inc. now owns 197,571 shares of the company's stock worth $9,679,000 after purchasing an additional 168,480 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of New York Times by 47,273.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 165,807 shares of the company's stock valued at $8,123,000 after purchasing an additional 165,457 shares during the period. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Stock Up 2.6 %

NYSE:NYT traded up $1.12 during trading hours on Thursday, reaching $44.45. The company had a trading volume of 1,061,765 shares, compared to its average volume of 1,258,462. The New York Times Company has a twelve month low of $35.06 and a twelve month high of $49.87. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 31.17 and a beta of 1.00. The business's 50-day simple moving average is $43.26 and its two-hundred day simple moving average is $44.77.

New York Times (NYSE:NYT - Get Free Report) last posted 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 firm had revenue of $676.20 million during the quarter, compared to analyst estimates of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The business's revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. As a group, equities analysts predict that The New York Times Company will post 1.64 earnings per share for the current year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 2nd were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.52 annualized dividend and a yield of 1.17%. This is an increase from New York Times's previous quarterly dividend of $0.11. New York Times's dividend payout ratio (DPR) is currently 37.41%.

Insider Buying and Selling at New York Times

In other New York Times news, Director David S. Perpich sold 3,014 shares of the business's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the sale, the director now directly owns 20,813 shares of the company's stock, valued at $916,396.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other New York Times news, Director David S. Perpich sold 3,014 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the completion of the transaction, the director now owns 20,813 shares in the company, valued at $916,396.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Diane Brayton sold 7,000 shares of the company's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total value of $299,880.00. Following the completion of the sale, the executive vice president now owns 39,312 shares in the company, valued at approximately $1,684,126.08. 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. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

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

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.