The New York Times Company (NYSE:NYT) Holdings Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in The New York Times Company (NYSE:NYT) by 4.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,592 shares of the company’s stock after buying an additional 6,501 shares during the period. Envestnet Asset Management Inc. owned 0.10% of New York Times worth $8,151,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NYT. Barclays PLC raised its holdings in New York Times by 113.2% during the third quarter. Barclays PLC now owns 123,256 shares of the company’s stock worth $6,862,000 after purchasing an additional 65,438 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of New York Times in the third quarter valued at $278,000. Tidal Investments LLC grew its holdings in New York Times by 17.4% during the third quarter. Tidal Investments LLC now owns 20,715 shares of the company’s stock worth $1,153,000 after acquiring an additional 3,071 shares during the period. Franklin Resources Inc. raised its position in New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after acquiring an additional 49,853 shares in the last quarter. Finally, Copley Financial Group Inc. bought a new position in shares of New York Times during the 3rd quarter valued at about $485,000. 95.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Morgan Stanley reduced their target price on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.00.

New York Times Trading Up 0.9 %

Shares of NYSE NYT opened at $49.23 on Friday. The firm has a market capitalization of $8.04 billion, a PE ratio of 27.66, a PEG ratio of 1.75 and a beta of 1.10. The New York Times Company has a one year low of $42.33 and a one year high of $58.16. The business has a 50-day moving average price of $48.49 and a two-hundred day moving average price of $51.96.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st were given a $0.18 dividend. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, April 1st. New York Times’s dividend payout ratio is presently 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.