KLP Kapitalforvaltning AS Takes $2.48 Million Position in The New York Times Company (NYSE:NYT)

KLP Kapitalforvaltning AS acquired a new position in shares of The New York Times Company (NYSE:NYT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 47,700 shares of the company’s stock, valued at approximately $2,483,000.

Several other institutional investors also recently modified their holdings of the stock. Coldstream Capital Management Inc. grew its stake in New York Times by 4.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock worth $260,000 after buying an additional 193 shares in the last quarter. Brown Financial Advisors lifted its holdings in shares of New York Times by 2.3% during the 4th quarter. Brown Financial Advisors now owns 8,996 shares of the company’s stock worth $468,000 after acquiring an additional 200 shares during the last quarter. IFP Advisors Inc grew its position in New York Times by 0.7% in the fourth quarter. IFP Advisors Inc now owns 34,368 shares of the company’s stock worth $1,789,000 after acquiring an additional 224 shares in the last quarter. Natixis Advisors LLC increased its stake in New York Times by 1.2% in the fourth quarter. Natixis Advisors LLC now owns 19,187 shares of the company’s stock valued at $999,000 after acquiring an additional 228 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after purchasing an additional 247 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

New York Times Price Performance

Shares of NYT stock opened at $49.35 on Thursday. The business has a 50-day moving average of $50.05 and a 200 day moving average of $52.76. The stock has a market capitalization of $8.06 billion, a PE ratio of 27.72, a P/E/G ratio of 1.75 and a beta of 1.18. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $58.16.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. Analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio (DPR) is 40.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NYT. Morgan Stanley reduced their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and a consensus 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.