Johnson Investment Counsel Inc. purchased a new stake in The New York Times Company (NYSE:NYT) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,139 shares of the company’s stock, valued at approximately $1,705,000.
Several other hedge funds have also added to or reduced their stakes in the stock. Liberty Wealth Management LLC bought a new position in shares of The New York Times in the second quarter worth about $34,000. Clean Yield Group acquired a new stake in The New York Times in the 2nd quarter valued at $37,000. Van ECK Associates Corp acquired a new stake in The New York Times in the 1st quarter valued at $40,000. Rockefeller Capital Management L.P. lifted its stake in The New York Times by 80.5% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,345 shares of the company’s stock valued at $58,000 after acquiring an additional 600 shares in the last quarter. Finally, Ameritas Investment Company LLC bought a new position in The New York Times during the 1st quarter valued at $82,000. Institutional investors and hedge funds own 92.95% of the company’s stock.
Shares of NYT stock opened at $52.99 on Thursday. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of 64.62 and a beta of 0.81. The business’s fifty day moving average is $50.07 and its 200 day moving average is $46.40. The New York Times Company has a twelve month low of $37.21 and a twelve month high of $58.73.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 22nd. Stockholders of record on Monday, October 11th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, October 7th. The New York Times’s dividend payout ratio (DPR) is currently 28.87%.
Separately, Zacks Investment Research upgraded The New York Times from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, August 6th.
The New York Times Company Profile
The New York Times Co is a media organization, which engages in creating, collecting, and distributing news and information. It operates through the news product and other interest-specific products, and related content and services. It offers newspapers, print, and digital products and investments. The firm manages The New York Times, NYTimes.com, and mobile applications.
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