Allspring Global Investments Holdings LLC Increases Stock Holdings in The New York Times Company (NYSE:NYT)

Allspring Global Investments Holdings LLC boosted its position in shares of The New York Times Company (NYSE:NYT) by 47,273.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 165,807 shares of the company’s stock after purchasing an additional 165,457 shares during the period. Allspring Global Investments Holdings LLC’s holdings in New York Times were worth $8,123,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Confluence Wealth Services Inc. grew its position in shares of New York Times by 14.1% during the 4th quarter. Confluence Wealth Services Inc. now owns 16,608 shares of the company’s stock valued at $814,000 after purchasing an additional 2,053 shares in the last quarter. International Assets Investment Management LLC grew its position in New York Times by 1,322.3% during the fourth quarter. International Assets Investment Management LLC now owns 22,046 shares of the company’s stock worth $1,080,000 after buying an additional 20,496 shares in the last quarter. Pinkerton Retirement Specialists LLC purchased a new position in New York Times during the fourth quarter worth about $1,086,000. Cullinan Associates Inc. increased its stake in New York Times by 10.3% in the 4th quarter. Cullinan Associates Inc. now owns 177,256 shares of the company’s stock worth $8,684,000 after acquiring an additional 16,497 shares during the last quarter. Finally, Boston Trust Walden Corp purchased a new stake in shares of New York Times in the 4th quarter valued at about $212,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

Shares of NYSE NYT opened at $41.61 on Thursday. The stock has a market capitalization of $6.83 billion, a P/E ratio of 29.94 and a beta of 1.01. The New York Times Company has a one year low of $35.06 and a one year high of $49.87. The firm’s 50 day simple moving average is $43.43 and its two-hundred day simple moving average is $44.69.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.10. The company had revenue of $676.20 million during the quarter, compared to analysts’ expectations of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. As a group, equities analysts expect that The New York Times Company will post 1.64 earnings per share for the current fiscal year.

New York Times Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd will be paid a dividend of $0.13 per share. This is a boost from New York Times’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Monday, April 1st. New York Times’s dividend payout ratio (DPR) is 37.41%.

Insider Transactions at New York Times

In related news, EVP Diane Brayton sold 7,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the sale, the executive vice president now directly owns 39,312 shares in the company, valued at approximately $1,684,126.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director David S. Perpich sold 3,014 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total transaction of $132,706.42. Following the completion of the sale, the director now directly owns 20,813 shares in the company, valued at $916,396.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the transaction, the executive vice president now owns 39,312 shares in the company, valued at approximately $1,684,126.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,557 shares of company stock worth $1,029,968. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

NYT has been the subject of several recent analyst reports. Citigroup initiated coverage on New York Times in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective for the company. Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Monday, March 4th. Finally, StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.67.

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.