First Trust Advisors LP Purchases 95,852 Shares of The New York Times Company (NYSE:NYT)

First Trust Advisors LP increased its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 95.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 196,571 shares of the company's stock after purchasing an additional 95,852 shares during the quarter. First Trust Advisors LP owned approximately 0.12% of New York Times worth $10,232,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NYT. Brown Financial Advisors raised its position in New York Times by 2.3% in the fourth quarter. Brown Financial Advisors now owns 8,996 shares of the company's stock worth $468,000 after acquiring an additional 200 shares during the period. Bessemer Group Inc. raised its position in New York Times by 12.6% in the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock worth $99,000 after acquiring an additional 212 shares during the period. IFP Advisors Inc raised its position in New York Times by 0.7% in the fourth quarter. IFP Advisors Inc now owns 34,368 shares of the company's stock worth $1,789,000 after acquiring an additional 224 shares during the period. Natixis Advisors LLC raised its position in New York Times by 1.2% in the fourth quarter. Natixis Advisors LLC now owns 19,187 shares of the company's stock worth $999,000 after acquiring an additional 228 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in New York Times by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company's stock worth $60,000 after acquiring an additional 247 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Trading Down 0.6 %

Shares of NYSE NYT traded down $0.32 during midday trading on Thursday, hitting $51.74. The company's stock had a trading volume of 1,396,107 shares, compared to its average volume of 1,320,854. The stock has a fifty day moving average price of $48.69 and a 200 day moving average price of $51.75. The New York Times Company has a one year low of $43.33 and a one year high of $58.16. The firm has a market capitalization of $8.45 billion, a price-to-earnings ratio of 29.07, a P/E/G ratio of 1.75 and a beta of 1.10.

New York Times (NYSE:NYT - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. On average, equities research 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 company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Investors of record on Tuesday, April 1st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Tuesday, April 1st. This is a positive change from New York Times's previous quarterly dividend of $0.13. New York Times's dividend payout ratio is 40.45%.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley lowered their price objective on shares of New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. StockNews.com raised shares of New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Two 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $56.00.

New York Times Company 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.