Thrivent Financial for Lutherans Cuts Stake in The New York Times Company (NYSE:NYT)

Thrivent Financial for Lutherans lessened its stake in shares of The New York Times Company (NYSE:NYT) by 16.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,439 shares of the company’s stock after selling 21,751 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of New York Times worth $5,748,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NYT. UMB Bank n.a. increased its stake in shares of New York Times by 61.4% during the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after purchasing an additional 283 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after purchasing an additional 247 shares during the period. GAMMA Investing LLC increased its position in New York Times by 20.2% in the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock worth $131,000 after buying an additional 424 shares during the last quarter. Portfolio Design Labs LLC bought a new stake in shares of New York Times in the fourth quarter valued at $202,000. Finally, Synergy Financial Group LTD purchased a new position in shares of New York Times during the 3rd quarter valued at $217,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NYT shares. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley lowered their price target 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

New York Times Stock Down 0.1 %

Shares of NYSE NYT opened at $48.62 on Tuesday. The company has a market cap of $7.94 billion, a P/E ratio of 27.31, a P/E/G ratio of 1.75 and a beta of 1.18. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16. The business has a 50-day simple moving average of $50.16 and a two-hundred day simple moving average of $52.81.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating 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 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 disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Tuesday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio (DPR) is 40.45%.

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.