Summit Global Investments Invests $220,000 in The New York Times Company (NYSE:NYT)

Summit Global Investments bought a new stake in The New York Times Company (NYSE:NYT) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 3,943 shares of the company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in New York Times by 72.9% in the 1st quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock valued at $5,308,000 after acquiring an additional 51,801 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of New York Times during the first quarter valued at approximately $473,000. Comerica Bank grew its holdings in New York Times by 15.6% during the first quarter. Comerica Bank now owns 83,282 shares of the company’s stock worth $3,599,000 after buying an additional 11,234 shares in the last quarter. Russell Investments Group Ltd. raised its position in New York Times by 9.0% in the 1st quarter. Russell Investments Group Ltd. now owns 116,934 shares of the company’s stock valued at $5,054,000 after buying an additional 9,609 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its holdings in New York Times by 5.6% during the 1st quarter. Orion Portfolio Solutions LLC now owns 39,230 shares of the company’s stock worth $1,696,000 after acquiring an additional 2,082 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price 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. Barclays lifted their target price on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target 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 analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $54.83.

New York Times Trading Down 2.5 %

New York Times stock opened at $54.87 on Tuesday. The business’s 50 day simple moving average is $54.81 and its 200 day simple moving average is $52.41. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $57.08. The company has a market cap of $9.01 billion, a price-to-earnings ratio of 32.47 and a beta of 1.02.

New York Times (NYSE:NYT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate 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 net margin of 11.04% and a return on equity of 17.75%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 earnings per share. As a group, equities research analysts forecast that The New York Times Company will post 1.85 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.95%. New York Times’s dividend 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.