The New York Times Company (NYSE:NYT) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its holdings in The New York Times Company (NYSE:NYT) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,304 shares of the company’s stock after selling 3,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in New York Times were worth $2,254,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Wellington Management Group LLP lifted its holdings in shares of New York Times by 2.0% in the 3rd quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock valued at $338,168,000 after buying an additional 118,479 shares during the period. State Street Corp lifted its holdings in shares of New York Times by 0.7% in the 3rd quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after buying an additional 32,905 shares during the period. Geode Capital Management LLC raised its holdings in New York Times by 4.1% during the third quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock worth $218,978,000 after purchasing an additional 154,509 shares during the last quarter. Franklin Resources Inc. raised its holdings in New York Times by 1.5% during the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after purchasing an additional 49,853 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in New York Times by 228.3% during the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock worth $132,040,000 after purchasing an additional 1,764,078 shares during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NYT shares. Deutsche Bank Aktiengesellschaft lifted their price objective on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Finally, Morgan Stanley reduced their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, New York Times currently has a consensus rating of “Moderate Buy” and an average price target of $54.71.

New York Times Stock Up 0.0 %

NYSE NYT opened at $48.05 on Tuesday. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 1.75 and a beta of 1.01. The business has a fifty day moving average of $52.07 and a 200-day moving average of $53.75.

New York Times (NYSE:NYT) last released its quarterly earnings results 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 return on equity of 18.51% and a net margin of 11.36%. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be given a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from New York Times’s previous quarterly dividend of $0.13. New York Times’s payout ratio is currently 40.45%.

About New York Times

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.