Corebridge Financial Inc. Trims Holdings in The New York Times Company (NYSE:NYT)

Corebridge Financial Inc. lowered its stake in shares of The New York Times Company (NYSE:NYT) by 4.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 184,618 shares of the company’s stock after selling 8,647 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of New York Times worth $9,609,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its position in shares of New York Times by 228.3% during 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 boosted its holdings in New York Times by 117.5% during the 4th quarter. Allianz Asset Management GmbH now owns 518,083 shares of the company’s stock valued at $26,966,000 after acquiring an additional 279,899 shares during the period. Clark & Stuart Inc acquired a new position in New York Times in the 4th quarter valued at about $8,490,000. Bank of New York Mellon Corp increased its stake in New York Times by 10.4% during 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 purchasing an additional 159,073 shares during the period. Finally, FMR LLC lifted its position in shares of New York Times by 41.9% during the third quarter. FMR LLC now owns 524,032 shares of the company’s stock worth $29,173,000 after purchasing an additional 154,822 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley dropped their price target on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Stock Up 0.4 %

Shares of New York Times stock opened at $49.35 on Thursday. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16. The company has a market capitalization of $8.06 billion, a P/E ratio of 27.72, a P/E/G ratio of 1.75 and a beta of 1.18. The company has a 50 day moving average of $50.05 and a 200 day moving average of $52.76.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping 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 anticipate 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 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 dividend yield of 1.46%. This is an increase 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 Company 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.