Lecap Asset Management Ltd. Acquires 6,376 Shares of The New York Times Company (NYSE:NYT)

Lecap Asset Management Ltd. lifted its holdings in shares of The New York Times Company (NYSE:NYT) by 27.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,473 shares of the company’s stock after acquiring an additional 6,376 shares during the quarter. Lecap Asset Management Ltd.’s holdings in New York Times were worth $1,534,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NYT. UMB Bank n.a. boosted its position in shares of New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares during the period. GAMMA Investing LLC raised its position in shares of New York Times by 49.7% in the third quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock valued at $117,000 after buying an additional 698 shares in the last quarter. Paladin Wealth LLC bought a new stake in shares of New York Times in the third quarter valued at approximately $172,000. Empower Advisory Group LLC acquired a new stake in New York Times during the third quarter worth approximately $205,000. Finally, Synergy Financial Group LTD bought a new position in New York Times during the 3rd quarter worth $217,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NYT. JPMorgan Chase & Co. increased their price target on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley dropped their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, StockNews.com downgraded New York Times from a “buy” rating to a “hold” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.71.

New York Times Stock Up 0.1 %

NYSE:NYT opened at $49.29 on Friday. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $58.16. The stock has a market cap of $8.08 billion, a P/E ratio of 29.16, a PEG ratio of 1.51 and a beta of 1.01. The business’s 50-day moving average price is $53.41 and its two-hundred day moving average price is $54.09.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.04% and a return on equity of 17.75%. On average, equities research analysts expect that The New York Times Company will post 1.84 EPS for the current fiscal 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 given a dividend of $0.18 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 1.46%. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio is presently 30.77%.

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.