Assetmark Inc. Increases Stock Position in The New York Times Company (NYSE:NYT)

Assetmark Inc. boosted its holdings in The New York Times Company (NYSE:NYT) by 10.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,316 shares of the company’s stock after purchasing an additional 4,282 shares during the quarter. Assetmark Inc.’s holdings in New York Times were worth $2,523,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in shares of New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC increased its stake in New York Times by 129.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after buying an additional 792 shares during the period. Signaturefd LLC raised its position in New York Times by 34.2% during the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after buying an additional 432 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of New York Times by 401.8% in the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after acquiring an additional 1,800 shares during the period. Finally, Paladin Wealth LLC purchased a new stake in shares of New York Times in the third quarter valued at about $172,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on NYT. Barclays increased their price target on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. increased their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, New York Times presently has an average rating of “Moderate Buy” and an average price target of $54.83.

New York Times Trading Down 1.3 %

Shares of NYT opened at $54.48 on Thursday. The firm’s 50-day moving average is $54.84 and its two-hundred day moving average is $52.58. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $57.08. The firm has a market capitalization of $8.95 billion, a P/E ratio of 32.24, a PEG ratio of 1.75 and a beta of 1.02.

New York Times (NYSE:NYT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.04. The firm had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. New York Times’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. Analysts predict that The New York Times Company will post 1.84 EPS for the current year.

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

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.