Bank of Montreal Can Purchases New Shares in The New York Times Company (NYSE:NYT)

Bank of Montreal Can acquired a new stake in shares of The New York Times Company (NYSE:NYT) during the second quarter, Holdings Channel reports. The fund acquired 25,082 shares of the company’s stock, valued at approximately $995,000.

Other large investors have also recently added to or reduced their stakes in the company. Private Trust Co. NA bought a new position in New York Times during the 2nd quarter valued at $30,000. Compass Wealth Management LLC bought a new position in New York Times during the 4th quarter valued at $30,000. Allspring Global Investments Holdings LLC bought a new position in New York Times during the 2nd quarter valued at $56,000. Belpointe Asset Management LLC lifted its position in shares of New York Times by 31.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,510 shares of the company’s stock worth $59,000 after buying an additional 365 shares during the last quarter. Finally, Toronto Dominion Bank bought a new position in shares of New York Times in the 1st quarter worth about $61,000. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NYT shares. StockNews.com downgraded shares of New York Times from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley raised their price target on shares of New York Times from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday. Guggenheim raised their price target on shares of New York Times from $37.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, August 10th. JPMorgan Chase & Co. raised their price target on shares of New York Times from $41.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 9th. Finally, Barclays raised their price target on shares of New York Times from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.75.

New York Times Stock Up 1.1 %

Shares of NYSE:NYT opened at $43.58 on Monday. The company has a market cap of $7.16 billion, a PE ratio of 37.57 and a beta of 1.12. The company’s 50-day moving average price is $42.15 and its 200 day moving average price is $40.49. The New York Times Company has a fifty-two week low of $31.46 and a fifty-two week high of $45.33.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $598.35 million for the quarter, compared to the consensus estimate of $589.49 million. New York Times had a net margin of 8.00% and a return on equity of 16.22%. New York Times’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. As a group, equities analysts anticipate that The New York Times Company will post 1.5 EPS for the current year.

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.44 annualized dividend and a yield of 1.01%. New York Times’s payout ratio is 37.93%.

About New York Times

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com website.