The New York Times Company (NYSE:NYT) Shares Purchased by Magnetar Financial LLC

Magnetar Financial LLC grew its stake in shares of The New York Times Company (NYSE:NYT) by 90.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,549 shares of the company’s stock after acquiring an additional 4,058 shares during the quarter. Magnetar Financial LLC’s holdings in New York Times were worth $445,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Teacher Retirement System of Texas increased its holdings in New York Times by 10.3% in the 4th quarter. Teacher Retirement System of Texas now owns 202,495 shares of the company’s stock worth $10,540,000 after buying an additional 18,844 shares during the period. Xponance Inc. increased its holdings in New York Times by 9.5% in the 4th quarter. Xponance Inc. now owns 25,950 shares of the company’s stock worth $1,351,000 after buying an additional 2,243 shares during the period. Counterpoint Mutual Funds LLC increased its holdings in New York Times by 84.8% in the 4th quarter. Counterpoint Mutual Funds LLC now owns 34,405 shares of the company’s stock worth $1,791,000 after buying an additional 15,790 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in New York Times by 8.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,934 shares of the company’s stock worth $361,000 after buying an additional 558 shares during the period. Finally, Natixis Advisors LLC increased its holdings in New York Times by 1.2% in the 4th quarter. Natixis Advisors LLC now owns 19,187 shares of the company’s stock worth $999,000 after buying an additional 228 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Price Performance

Shares of NYSE:NYT opened at $48.72 on Friday. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The business’s 50 day moving average price is $50.21 and its 200-day moving average price is $52.86.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts expect that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be issued a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.48%. This is a positive change from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio (DPR) is presently 40.45%.

Analysts Set New Price Targets

Several research firms have commented on NYT. Morgan Stanley lowered their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, New York Times currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

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.