International Assets Investment Management LLC Has $1.08 Million Stock Position in The New York Times Company (NYSE:NYT)

International Assets Investment Management LLC grew its holdings in shares of The New York Times Company (NYSE:NYT) by 1,322.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 22,046 shares of the company’s stock after acquiring an additional 20,496 shares during the period. International Assets Investment Management LLC’s holdings in New York Times were worth $1,080,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NYT. Contravisory Investment Management Inc. acquired a new stake in New York Times in the fourth quarter valued at $27,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of New York Times in the third quarter valued at about $37,000. Covestor Ltd raised its position in shares of New York Times by 9.6% during the third quarter. Covestor Ltd now owns 2,659 shares of the company’s stock worth $110,000 after acquiring an additional 232 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of New York Times in the third quarter worth approximately $120,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in New York Times by 274.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 3,513 shares of the company’s stock valued at $145,000 after acquiring an additional 2,574 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

New York Times stock opened at $43.16 on Tuesday. The New York Times Company has a 52-week low of $35.06 and a 52-week high of $49.87. The stock’s 50 day moving average price is $43.34 and its two-hundred day moving average price is $44.74. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 31.05 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.10. The firm had revenue of $676.20 million during the quarter, compared to the consensus estimate of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. On average, equities research analysts forecast that The New York Times Company will post 1.64 EPS for the current year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were paid a dividend of $0.13 per share. This is an increase from New York Times’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Monday, April 1st. New York Times’s dividend payout ratio is 37.41%.

Insiders Place Their Bets

In other news, Director David S. Perpich sold 3,014 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was 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 owns 20,813 shares in the company, valued at $916,396.39. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other New York Times news, CEO Levien Meredith A. Kopit sold 13,543 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the transaction, the chief executive officer now owns 90,759 shares in the company, valued at $4,003,379.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David S. Perpich sold 3,014 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 20,813 shares in the company, valued at $916,396.39. 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. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Argus upgraded 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 report on Monday, March 4th. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, Citigroup began coverage on shares of New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, New York Times has a consensus rating of “Moderate Buy” and an average price target of $45.67.

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.