Fox Run Management L.L.C. Trims Position in The New York Times Company (NYSE:NYT)

Fox Run Management L.L.C. lessened its holdings in shares of The New York Times Company (NYSE:NYT) by 29.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,289 shares of the company’s stock after selling 3,439 shares during the quarter. Fox Run Management L.L.C.’s holdings in New York Times were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NYT. Commerce Bank lifted its holdings in New York Times by 74.0% in the third quarter. Commerce Bank now owns 12,988 shares of the company’s stock worth $723,000 after buying an additional 5,523 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of New York Times by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,862,569 shares of the company’s stock valued at $103,689,000 after purchasing an additional 7,654 shares in the last quarter. Citigroup Inc. grew its stake in New York Times by 13.5% in the third quarter. Citigroup Inc. now owns 82,481 shares of the company’s stock worth $4,592,000 after purchasing an additional 9,820 shares during the period. Cerity Partners LLC raised its holdings in New York Times by 10.8% in the third quarter. Cerity Partners LLC now owns 15,999 shares of the company’s stock worth $891,000 after purchasing an additional 1,556 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in New York Times by 324.9% during the third quarter. Daiwa Securities Group Inc. now owns 15,170 shares of the company’s stock valued at $845,000 after buying an additional 11,600 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley reduced 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 report on Thursday, February 6th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Two investment 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, New York Times currently has an average rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Stock Performance

Shares of NYT stock opened at $49.11 on Wednesday. The company has a market capitalization of $8.02 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The company’s 50-day moving average is $50.11 and its 200 day moving average is $52.78.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share 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%. As a group, research analysts predict 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 declared 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 1.47%. 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%.

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.