Lecap Asset Management Ltd. Purchases 6,376 Shares of The New York Times Company (NYSE:NYT)

Lecap Asset Management Ltd. lifted its position in The New York Times Company (NYSE:NYT) by 27.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,473 shares of the company’s stock after acquiring an additional 6,376 shares during the quarter. Lecap Asset Management Ltd.’s holdings in New York Times were worth $1,534,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NYT. Wellington Management Group LLP raised its holdings in shares of New York Times by 2.0% in the 3rd quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock valued at $338,168,000 after purchasing an additional 118,479 shares in the last quarter. State Street Corp lifted its holdings in New York Times by 0.7% during the third quarter. State Street Corp now owns 4,785,844 shares of the company’s stock worth $266,428,000 after buying an additional 32,905 shares during the period. Geode Capital Management LLC lifted its holdings in New York Times by 4.1% during the third quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock worth $218,978,000 after buying an additional 154,509 shares during the period. Franklin Resources Inc. boosted its position in New York Times by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after acquiring an additional 49,853 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of New York Times by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,862,569 shares of the company’s stock valued at $103,689,000 after acquiring an additional 7,654 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NYT. StockNews.com downgraded shares of New York Times from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley lowered their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.71.

New York Times Stock Performance

Shares of New York Times stock opened at $49.29 on Friday. The business’s 50 day moving average price is $53.41 and its 200 day moving average price is $54.09. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 1.51 and a beta of 1.01. The New York Times Company has a one year low of $41.55 and a one year high of $58.16.

New York Times (NYSE:NYT) last posted its earnings results 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 return on equity of 17.75% and a net margin of 11.04%. On average, analysts predict that The New York Times Company will post 1.84 EPS 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. Investors of record on Tuesday, April 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.46%. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s payout ratio is 30.77%.

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.