AlphaQuest LLC Lowers Stake in The New York Times Company (NYSE:NYT)

AlphaQuest LLC lessened its position in shares of The New York Times Company (NYSE:NYT) by 40.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,776 shares of the company’s stock after selling 15,960 shares during the period. AlphaQuest LLC’s holdings in New York Times were worth $1,238,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its position in New York Times by 4.3% during the third quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock valued at $260,000 after acquiring an additional 193 shares during the period. Brown Financial Advisors lifted its stake in shares of New York Times by 2.3% during the fourth quarter. Brown Financial Advisors now owns 8,996 shares of the company’s stock worth $468,000 after purchasing an additional 200 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of New York Times by 0.7% during the fourth quarter. IFP Advisors Inc now owns 34,368 shares of the company’s stock worth $1,789,000 after purchasing an additional 224 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after purchasing an additional 247 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of New York Times by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 5,092 shares of the company’s stock worth $265,000 after purchasing an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley reduced 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 note on Thursday, February 6th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.33.

New York Times Stock Performance

NYSE:NYT opened at $49.25 on Monday. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The business’s 50-day simple moving average is $50.90 and its 200 day simple moving average is $53.28. The stock has a market cap of $8.04 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate 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, equities research analysts predict that The New York Times Company will post 2.08 EPS 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 paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 1.46%. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio is presently 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.