Park Avenue Securities LLC Boosts Holdings in The New York Times Company (NYSE:NYT)

Park Avenue Securities LLC lifted its position in shares of The New York Times Company (NYSE:NYT) by 236.0% in the fourth quarter, Holdings Channel reports. The firm owned 13,985 shares of the company’s stock after purchasing an additional 9,823 shares during the period. Park Avenue Securities LLC’s holdings in New York Times were worth $728,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Darsana Capital Partners LP lifted its position in New York Times by 25.0% during the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after acquiring an additional 1,250,000 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of New York Times by 2.0% in the third quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock worth $338,168,000 after purchasing an additional 118,479 shares in the last quarter. State Street Corp grew its stake in shares of New York Times by 0.7% in the third quarter. State Street Corp now owns 4,785,844 shares of the company’s stock worth $266,428,000 after purchasing an additional 32,905 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of New York Times by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock worth $218,978,000 after purchasing an additional 154,509 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after buying an additional 49,853 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

New York Times stock opened at $52.57 on Wednesday. The firm has a market cap of $8.62 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 1.48 and a beta of 1.00. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The firm has a fifty day moving average price of $53.44 and a two-hundred day moving average price of $54.02.

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

New York Times Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, January 10th. This represents a $0.52 annualized dividend and a yield of 0.99%. New York Times’s dividend payout ratio is 30.77%.

Wall Street Analyst Weigh In

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

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.