Harvest Fund Management Co. Ltd Purchases 2,492 Shares of The New York Times Company (NYSE:NYT)

Harvest Fund Management Co. Ltd grew its position in shares of The New York Times Company (NYSE:NYT) by 70.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,005 shares of the company’s stock after purchasing an additional 2,492 shares during the period. Harvest Fund Management Co. Ltd’s holdings in New York Times were worth $294,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NYT. Charles Schwab Investment Management Inc. lifted its stake in shares of New York Times by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,769,714 shares of the company’s stock valued at $72,912,000 after acquiring an additional 27,345 shares during the last quarter. Northern Trust Corp lifted its stake in shares of New York Times by 3.2% in the 3rd quarter. Northern Trust Corp now owns 1,478,661 shares of the company’s stock valued at $60,921,000 after acquiring an additional 45,677 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in shares of New York Times by 232.9% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,038,033 shares of the company’s stock valued at $42,767,000 after acquiring an additional 726,231 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of New York Times by 9.7% in the 3rd quarter. Baillie Gifford & Co. now owns 922,490 shares of the company’s stock valued at $38,007,000 after acquiring an additional 81,217 shares during the last quarter. Finally, Burgundy Asset Management Ltd. lifted its stake in shares of New York Times by 17.1% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 756,812 shares of the company’s stock valued at $31,181,000 after acquiring an additional 110,706 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

NYT stock opened at $43.30 on Thursday. The company has a market cap of $7.11 billion, a P/E ratio of 31.15 and a beta of 1.01. The New York Times Company has a 1 year low of $35.06 and a 1 year high of $49.87. The stock’s fifty day moving average price is $43.30 and its 200-day moving average price is $44.74.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.10. The company had revenue of $676.20 million for the quarter, compared to analysts’ expectations of $680.02 million. New York Times had a return on equity of 16.48% and a net margin of 9.58%. New York Times’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. As a group, analysts expect that The New York Times Company will post 1.64 earnings per share for the current year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd were given a dividend of $0.13 per share. This is a positive change from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.20%. New York Times’s dividend payout ratio (DPR) is presently 37.41%.

Insider Activity

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of New York Times stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $44.11, for a total value of $597,381.73. Following the completion of the transaction, the chief executive officer now owns 90,759 shares in the company, valued at $4,003,379.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Diane Brayton sold 7,000 shares of New York Times stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the sale, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of New York Times stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $44.11, for a total transaction of $597,381.73. Following the sale, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The disclosure for this sale can be found here. Insiders sold a total of 23,557 shares of company stock worth $1,029,968 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NYT. Citigroup began coverage on New York Times in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target for the company. Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Monday, March 4th. Finally, StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.67.

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.