Charles Schwab Investment Management Inc. Buys 7,654 Shares of The New York Times Company (NYSE:NYT)

Charles Schwab Investment Management Inc. increased its stake in shares of The New York Times Company (NYSE:NYT) by 0.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,862,569 shares of the company’s stock after acquiring an additional 7,654 shares during the period. Charles Schwab Investment Management Inc. owned about 1.13% of New York Times worth $103,689,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. UMB Bank n.a. increased its position in New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after buying an additional 360 shares during the last quarter. GAMMA Investing LLC increased its position in New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after buying an additional 792 shares during the last quarter. Signaturefd LLC increased its position in New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after buying an additional 432 shares during the last quarter. Blue Trust Inc. increased its position in New York Times by 401.8% during the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after buying an additional 1,800 shares during the last quarter. Finally, Paladin Wealth LLC acquired a new position in New York Times during the third quarter worth approximately $172,000. Institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

NYT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Barclays upped their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, New York Times currently has an average rating of “Moderate Buy” and a consensus price target of $54.83.

New York Times Price Performance

Shares of NYSE:NYT opened at $54.66 on Wednesday. The company has a market capitalization of $8.96 billion, a P/E ratio of 32.34, a P/E/G ratio of 1.72 and a beta of 1.02. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $57.08. The business’s 50 day simple moving average is $54.84 and its 200 day simple moving average is $53.14.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. On average, sell-side analysts anticipate that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio is currently 30.77%.

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.