Portfolio Design Labs LLC Takes $202,000 Position in The New York Times Company (NYSE:NYT)

Portfolio Design Labs LLC bought a new position in The New York Times Company (NYSE:NYT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,880 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after acquiring an additional 360 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of New York Times by 20.2% in the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock worth $131,000 after purchasing an additional 424 shares during the last quarter. Empower Advisory Group LLC purchased a new position in New York Times during the 3rd quarter valued at about $205,000. Synergy Financial Group LTD bought a new position in New York Times during the 3rd quarter valued at approximately $217,000. Finally, Summit Global Investments purchased a new stake in New York Times in the 3rd quarter worth approximately $220,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Price Performance

NYSE:NYT opened at $50.38 on Thursday. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $58.16. The company has a market capitalization of $8.26 billion, a PE ratio of 28.30, a P/E/G ratio of 1.35 and a beta of 1.01. The firm’s 50-day moving average price is $53.02 and its 200-day moving average price is $53.94.

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 11.36% and a return on equity of 18.51%. Equities analysts anticipate that The New York Times Company will post 2.07 EPS for the current fiscal year.

New York Times Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. This is a boost from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.43%. New York Times’s payout ratio is presently 29.21%.

Analyst Upgrades and Downgrades

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

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.