JPMorgan Chase & Co. Purchases 53,839 Shares of The New York Times Company (NYSE:NYT)

JPMorgan Chase & Co. boosted its position in shares of The New York Times Company (NYSE:NYT) by 13.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 467,028 shares of the company’s stock after acquiring an additional 53,839 shares during the quarter. JPMorgan Chase & Co.’s holdings in New York Times were worth $25,999,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NYT. Darsana Capital Partners LP increased its stake in shares of New York Times by 25.0% during the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after purchasing an additional 1,250,000 shares during the last quarter. Renaissance Technologies LLC grew its holdings in New York Times by 19.8% during the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after purchasing an additional 482,200 shares during the period. Dimensional Fund Advisors LP increased its position in New York Times by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after buying an additional 438,680 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in New York Times by 582.1% in the third quarter. Assenagon Asset Management S.A. now owns 361,235 shares of the company’s stock valued at $20,110,000 after buying an additional 308,277 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of New York Times by 964.9% in the second quarter. Bank of Montreal Can now owns 266,079 shares of the company’s stock valued at $13,637,000 after buying an additional 241,093 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on NYT shares. Deutsche Bank Aktiengesellschaft boosted their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, New York Times has an average rating of “Moderate Buy” and an average price target of $54.83.

New York Times Price Performance

NYT opened at $52.16 on Wednesday. The company has a market capitalization of $8.55 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. The business has a fifty day simple moving average of $54.16 and a 200 day simple moving average of $53.98. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16.

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

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be given a $0.13 dividend. The ex-dividend date is Friday, January 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.00%. New York Times’s payout ratio is 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.