The New York Times Company (NYSE:NYT) Stock Position Reduced by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its position in The New York Times Company (NYSE:NYT) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,728 shares of the company’s stock after selling 12,618 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.06% of New York Times worth $5,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank n.a. increased its stake in New York Times by 356.4% during 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 last quarter. GAMMA Investing LLC grew its position in shares of New York Times by 49.7% during the 3rd quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock valued at $117,000 after buying an additional 698 shares during the last quarter. Paladin Wealth LLC acquired a new stake in New York Times during the third quarter worth about $172,000. Empower Advisory Group LLC bought a new position in New York Times in the third quarter worth about $205,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in New York Times in the second quarter valued at approximately $206,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NYT. Deutsche Bank Aktiengesellschaft raised their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

New York Times Price Performance

Shares of New York Times stock opened at $51.90 on Thursday. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $58.16. The company has a market capitalization of $8.51 billion, a P/E ratio of 30.71, a PEG ratio of 1.75 and a beta of 1.00. The business’s fifty day moving average price is $54.00 and its two-hundred day moving average price is $53.98.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 earnings per share. On average, research analysts expect that The New York Times Company will post 1.84 earnings per share for the current fiscal year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, January 10th. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

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.