KLP Kapitalforvaltning AS Takes $2.48 Million Position in The New York Times Company (NYSE:NYT)

KLP Kapitalforvaltning AS purchased a new position in The New York Times Company (NYSE:NYT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 47,700 shares of the company’s stock, valued at approximately $2,483,000.

Other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in New York Times by 61.4% in the fourth quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after acquiring an additional 283 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after purchasing an additional 247 shares during the period. GAMMA Investing LLC lifted its stake in New York Times by 20.2% in the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock valued at $131,000 after purchasing an additional 424 shares during the last quarter. Portfolio Design Labs LLC bought a new position in New York Times during the fourth quarter valued at $202,000. Finally, Synergy Financial Group LTD purchased a new stake in New York Times in the third quarter worth $217,000. Institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NYT. Morgan Stanley dropped their price target on 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 report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Stock Performance

Shares of NYSE NYT opened at $49.35 on Thursday. The stock has a fifty day moving average of $50.05 and a 200-day moving average of $52.76. The stock has a market cap of $8.06 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16.

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 return on equity of 18.51% and a net margin of 11.36%. On average, sell-side 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 announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.46%. New York Times’s dividend 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.