7,097 Shares in The New York Times Company (NYSE:NYT) Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in The New York Times Company (NYSE:NYT) in the 4th quarter, HoldingsChannel reports. The fund purchased 7,097 shares of the company’s stock, valued at approximately $369,000.

Several other institutional investors have also recently made changes to their positions in the stock. UMB Bank n.a. increased its position in New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after buying an additional 283 shares in the last quarter. Smartleaf Asset Management LLC grew its stake 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 valued at $60,000 after acquiring an additional 247 shares during the period. GAMMA Investing LLC increased its holdings in shares of New York Times by 20.2% during the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock valued at $131,000 after acquiring an additional 424 shares in the last quarter. Portfolio Design Labs LLC acquired a new position in shares of New York Times during the fourth quarter worth approximately $202,000. Finally, Synergy Financial Group LTD bought a new position in shares of New York Times in the 3rd quarter worth $217,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Price Performance

NYT opened at $48.72 on Monday. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 1.75 and a beta of 1.18. The firm’s fifty day moving average price is $50.21 and its two-hundred day moving average price is $52.85.

New York Times (NYSE:NYT) last released its quarterly 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 net margin of 11.36% and a return on equity of 18.51%. As a group, equities analysts anticipate that The New York Times Company will post 2.08 EPS for the current 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 dividend yield of 1.48%. This is an increase from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio (DPR) is presently 40.45%.

Wall Street Analyst Weigh In

A number of brokerages have commented on NYT. Morgan Stanley decreased their price target 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. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, New York Times presently 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.