The New York Times Company (NYSE:NYT) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its stake in The New York Times Company (NYSE:NYT) by 10.6% in the third quarter, HoldingsChannel.com reports. The fund owned 66,692 shares of the company’s stock after purchasing an additional 6,418 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in New York Times were worth $3,713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NYT. UMB Bank n.a. increased its position in New York Times by 356.4% during the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares in the last quarter. GAMMA Investing LLC boosted 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 worth $72,000 after purchasing an additional 792 shares during the last quarter. Signaturefd LLC grew its holdings in shares of New York Times by 34.2% during the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after buying an additional 432 shares in the last quarter. Blue Trust Inc. raised its position in shares of New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after buying an additional 1,800 shares during the last quarter. Finally, Paladin Wealth LLC purchased a new position in shares of New York Times during the third quarter valued at approximately $172,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Stock Up 2.6 %

Shares of NYSE NYT opened at $56.23 on Friday. The stock has a market capitalization of $9.22 billion, a PE ratio of 33.27, a P/E/G ratio of 1.71 and a beta of 1.00. The firm has a fifty day moving average of $54.78 and a 200-day moving average of $53.41. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $57.08.

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

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

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

New York Times Company 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.