Empower Advisory Group LLC Makes New $205,000 Investment in The New York Times Company (NYSE:NYT)

Empower Advisory Group LLC acquired a new position in shares of The New York Times Company (NYSE:NYT) during the third quarter, Holdings Channel.com reports. The fund acquired 3,682 shares of the company’s stock, valued at approximately $205,000.

Several other large investors have also recently bought and sold shares of NYT. UMB Bank n.a. grew its stake in shares of 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 buying an additional 360 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of New York Times by 129.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after purchasing an additional 792 shares during the period. Signaturefd LLC increased its stake in shares of New York Times by 34.2% in the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after purchasing an additional 432 shares in the last quarter. Blue Trust Inc. raised its stake in New York Times by 401.8% during 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 position in shares of New York Times in the third quarter valued at about $172,000. 95.37% of the stock is owned by institutional investors.

New York Times Trading Down 3.2 %

Shares of New York Times stock opened at $52.46 on Friday. The company has a fifty day simple moving average of $54.85 and a 200-day simple moving average of $52.60. The stock has a market cap of $8.62 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 1.73 and a beta of 1.02. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $57.08.

New York Times (NYSE:NYT) last announced its earnings results 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 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 business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 earnings per share. On average, analysts forecast that The New York Times Company will post 1.84 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is 30.77%.

Analyst Ratings Changes

NYT has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price objective 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. Barclays upped 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 research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, New York Times presently has a consensus rating of “Moderate Buy” and an average price target of $54.83.

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.