The New York Times Company (NYSE:NYT) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. lifted its position in The New York Times Company (NYSE:NYT - Free Report) by 46.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,597 shares of the company's stock after purchasing an additional 17,225 shares during the period. Pinebridge Investments L.P.'s holdings in New York Times were worth $2,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in NYT. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of New York Times by 511.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company's stock worth $25,000 after acquiring an additional 394 shares during the period. Mountain Hill Investment Partners Corp. purchased a new position in New York Times during the fourth quarter worth approximately $36,000. UMB Bank n.a. grew its holdings in 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. Smartleaf Asset Management LLC raised its stake in shares of New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock worth $60,000 after buying an additional 247 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of New York Times by 12.6% during the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock valued at $99,000 after buying an additional 212 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Performance

Shares of NYSE:NYT traded up $0.41 during midday trading on Wednesday, hitting $52.03. The company's stock had a trading volume of 1,697,964 shares, compared to its average volume of 1,318,983. The New York Times Company has a 12-month low of $42.71 and a 12-month high of $58.16. The company has a market cap of $8.50 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10. The business's 50 day simple moving average is $48.61 and its 200 day simple moving average is $51.75.

New York Times (NYSE:NYT - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping 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, sell-side analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Tuesday, April 1st. This is a positive change from New York Times's previous quarterly dividend of $0.13. New York Times's payout ratio is currently 40.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NYT. StockNews.com upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Morgan Stanley reduced their target price 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 assigned a buy rating to the stock. According to data from MarketBeat.com, New York Times has a consensus rating of "Moderate Buy" and an average target price of $56.00.

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.