The New York Times Company (NYSE:NYT) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of The New York Times Company (NYSE:NYT) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,604 shares of the company’s stock after selling 435 shares during the period. State of Alaska Department of Revenue’s holdings in New York Times were worth $968,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in New York Times by 2.0% in the 3rd quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock valued at $338,168,000 after acquiring an additional 118,479 shares during the last quarter. State Street Corp raised its holdings in New York Times by 0.7% in the 3rd quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after acquiring an additional 32,905 shares during the last quarter. Geode Capital Management LLC raised its holdings in New York Times by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock valued at $218,978,000 after acquiring an additional 154,509 shares during the last quarter. Franklin Resources Inc. raised its holdings in New York Times by 1.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after acquiring an additional 49,853 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in New York Times by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,862,569 shares of the company’s stock valued at $103,689,000 after acquiring an additional 7,654 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Stock Up 0.7 %

Shares of NYSE NYT opened at $50.74 on Friday. The firm has a fifty day moving average of $52.93 and a 200-day moving average of $53.91. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16. The stock has a market capitalization of $8.32 billion, a PE ratio of 28.51, a P/E/G ratio of 1.35 and a beta of 1.01.

New York Times (NYSE:NYT) last announced its quarterly 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%. Equities research analysts expect that The New York Times Company will post 2.07 EPS for the current fiscal year.

New York Times Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.42%. This is a boost from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. New York Times’s dividend payout ratio is 29.21%.

Analyst Ratings Changes

Several brokerages have weighed in on NYT. Deutsche Bank Aktiengesellschaft boosted their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley lowered their price objective on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $54.71.

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.