Long Corridor Asset Management Ltd Has $4.68 Million Stake in The New York Times Company (NYSE:NYT)

Long Corridor Asset Management Ltd increased its stake in shares of The New York Times Company (NYSE:NYT) by 200.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 90,000 shares of the company’s stock after purchasing an additional 60,000 shares during the quarter. New York Times accounts for approximately 3.5% of Long Corridor Asset Management Ltd’s portfolio, making the stock its 9th largest position. Long Corridor Asset Management Ltd’s holdings in New York Times were worth $4,684,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of NYT. Commerce Bank grew its holdings in New York Times by 74.0% in the 3rd quarter. Commerce Bank now owns 12,988 shares of the company’s stock worth $723,000 after acquiring an additional 5,523 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of New York Times by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,862,569 shares of the company’s stock worth $103,689,000 after purchasing an additional 7,654 shares during the last quarter. Citigroup Inc. increased its holdings in New York Times by 13.5% during the 3rd quarter. Citigroup Inc. now owns 82,481 shares of the company’s stock valued at $4,592,000 after purchasing an additional 9,820 shares during the period. Cerity Partners LLC raised its position in New York Times by 10.8% during the 3rd quarter. Cerity Partners LLC now owns 15,999 shares of the company’s stock valued at $891,000 after purchasing an additional 1,556 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in New York Times by 324.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 15,170 shares of the company’s stock worth $845,000 after buying an additional 11,600 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Down 0.1 %

NYSE NYT opened at $48.62 on Tuesday. The company has a 50-day moving average price of $50.16 and a 200-day moving average price of $52.81. The firm has a market capitalization of $7.94 billion, a P/E ratio of 27.31, a PEG ratio of 1.75 and a beta of 1.18. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. As a group, equities research analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. This is a boost from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. New York Times’s dividend payout ratio is currently 40.45%.

Analysts Set New Price Targets

A number of research analysts have issued reports on NYT shares. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley dropped their price target on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

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.