Trust Point Inc. Acquires New Position in The New York Times Company (NYSE:NYT)

Trust Point Inc. acquired a new stake in shares of The New York Times Company (NYSE:NYT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,616 shares of the company’s stock, valued at approximately $292,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of New York Times by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after buying an additional 360 shares in the last quarter. GAMMA Investing LLC grew its position in New York Times by 49.7% in the third quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock valued at $117,000 after acquiring an additional 698 shares during the last quarter. Paladin Wealth LLC acquired a new position in New York Times during the third quarter worth about $172,000. Empower Advisory Group LLC bought a new position in shares of New York Times in the third quarter worth about $205,000. Finally, Synergy Financial Group LTD acquired a new stake in shares of New York Times in the 3rd quarter valued at approximately $217,000. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on NYT. JPMorgan Chase & Co. upped their price objective on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com cut New York Times from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley cut their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.71.

New York Times Stock Up 0.1 %

NYSE NYT opened at $49.29 on Friday. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 1.51 and a beta of 1.01. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $58.16. The stock has a fifty day simple moving average of $53.41 and a 200 day simple moving average of $54.09.

New York Times (NYSE:NYT) last issued its quarterly earnings data 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 return on equity of 17.75% and a net margin of 11.04%. Research analysts expect that The New York Times Company will post 1.84 earnings per share for the current fiscal year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.46%. This is an increase from New York Times’s previous quarterly dividend of $0.13. New York Times’s payout ratio is 29.21%.

New York Times Company 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.