Prudential Financial Inc. Sells 13,072 Shares of The New York Times Company (NYSE:NYT)

Prudential Financial Inc. lowered its stake in The New York Times Company (NYSE:NYT) by 16.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 64,810 shares of the company’s stock after selling 13,072 shares during the period. Prudential Financial Inc.’s holdings in New York Times were worth $3,399,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. bought a new position in shares of New York Times during the fourth quarter worth approximately $36,000. Vanguard Group Inc. increased its position in New York Times by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company’s stock worth $822,408,000 after buying an additional 63,856 shares during the period. Stevens Capital Management LP acquired a new stake in shares of New York Times during the fourth quarter worth $204,000. LPL Financial LLC boosted its position in shares of New York Times by 11.7% in the fourth quarter. LPL Financial LLC now owns 8,164 shares of the company’s stock valued at $425,000 after acquiring an additional 858 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of New York Times in the fourth quarter valued at about $2,483,000. 95.37% of the stock is owned by institutional investors.

New York Times Price Performance

Shares of NYT opened at $50.21 on Wednesday. The firm has a 50 day simple moving average of $49.84 and a two-hundred day simple moving average of $52.66. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The company has a market cap of $8.20 billion, a P/E ratio of 28.21, a P/E/G ratio of 1.75 and a beta of 1.18.

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 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, analysts expect that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.43%. New York Times’s payout ratio is 40.45%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley cut their price target on 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.