Portfolio Design Labs LLC Invests $202,000 in The New York Times Company (NYSE:NYT)

Portfolio Design Labs LLC purchased a new stake in shares of The New York Times Company (NYSE:NYT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,880 shares of the company’s stock, valued at approximately $202,000.

A number of other hedge funds also recently added to or reduced their stakes in NYT. Coldstream Capital Management Inc. increased its holdings in shares of New York Times by 4.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock worth $260,000 after purchasing an additional 193 shares in the last quarter. UMB Bank n.a. increased its holdings in New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after buying an additional 283 shares in the last quarter. KBC Group NV raised its position in New York Times by 0.4% in the 3rd quarter. KBC Group NV now owns 75,917 shares of the company’s stock worth $4,226,000 after buying an additional 308 shares during the last quarter. Hixon Zuercher LLC raised its position in New York Times by 2.9% in the 3rd quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock worth $696,000 after buying an additional 354 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in New York Times by 2.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 14,122 shares of the company’s stock valued at $735,000 after acquiring an additional 355 shares during the period. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on NYT. JPMorgan Chase & Co. lifted their price target on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley decreased their target price 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. Deutsche Bank Aktiengesellschaft increased their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and an average price target of $54.71.

New York Times Price Performance

Shares of NYT stock opened at $50.38 on Thursday. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The firm has a fifty day moving average price of $53.02 and a 200-day moving average price of $53.94. The company has a market cap of $8.26 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.35 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 EPS 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%. Equities research analysts expect that The New York Times Company will post 2.07 EPS for the current year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be given a $0.18 dividend. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Tuesday, April 1st. New York Times’s dividend payout ratio is presently 29.21%.

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.