AXQ Capital LP Purchases New Stake in The New York Times Company (NYSE:NYT)

AXQ Capital LP purchased a new stake in shares of The New York Times Company (NYSE:NYT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 20,639 shares of the company’s stock, valued at approximately $1,074,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. increased its position in New York Times by 228.3% in the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock worth $132,040,000 after buying an additional 1,764,078 shares during the period. Allianz Asset Management GmbH increased its position in New York Times by 117.5% in the fourth quarter. Allianz Asset Management GmbH now owns 518,083 shares of the company’s stock worth $26,966,000 after buying an additional 279,899 shares during the period. Clark & Stuart Inc acquired a new stake in New York Times in the fourth quarter worth $8,490,000. Bank of New York Mellon Corp increased its position in New York Times by 10.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,681,384 shares of the company’s stock worth $87,516,000 after buying an additional 159,073 shares during the period. Finally, FMR LLC increased its position in New York Times by 41.9% in the third quarter. FMR LLC now owns 524,032 shares of the company’s stock worth $29,173,000 after buying an additional 154,822 shares during the period. 95.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

New York Times Trading Up 0.3 %

New York Times stock opened at $48.72 on Friday. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.75 and a beta of 1.18. The company’s 50-day moving average price is $50.21 and its two-hundred day moving average price is $52.86. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating 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%. Research analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal 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 paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s payout ratio is currently 40.45%.

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.