Allspring Global Investments Holdings LLC Purchases 165,457 Shares of The New York Times Company (NYSE:NYT)

Allspring Global Investments Holdings LLC grew its position in The New York Times Company (NYSE:NYT) by 47,273.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,807 shares of the company’s stock after buying an additional 165,457 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.10% of New York Times worth $8,123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NYT. JPMorgan Chase & Co. raised its holdings in shares of New York Times by 2.0% during the 1st quarter. JPMorgan Chase & Co. now owns 302,022 shares of the company’s stock worth $13,845,000 after buying an additional 5,921 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of New York Times by 11.9% in the first quarter. American Century Companies Inc. now owns 17,533 shares of the company’s stock worth $804,000 after acquiring an additional 1,870 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of New York Times by 7.8% in the first quarter. HighTower Advisors LLC now owns 5,619 shares of the company’s stock worth $259,000 after acquiring an additional 406 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of New York Times by 1.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,607 shares of the company’s stock valued at $991,000 after purchasing an additional 354 shares in the last quarter. Finally, Natixis Advisors L.P. bought a new stake in shares of New York Times during the 1st quarter valued at approximately $476,000. Institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NYT. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Monday, March 4th. Finally, Citigroup assumed coverage on New York Times in a research report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 target price for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.67.

Insider Transactions at New York Times

In related news, Director David S. Perpich sold 3,014 shares of New York Times stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $44.03, for a total transaction of $132,706.42. Following the completion of the transaction, the director now owns 20,813 shares of the company’s stock, valued at $916,396.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other New York Times news, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the transaction, the chief executive officer now directly owns 90,759 shares in the company, valued at approximately $4,003,379.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David S. Perpich sold 3,014 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total transaction of $132,706.42. Following the sale, the director now directly owns 20,813 shares of the company’s stock, valued at approximately $916,396.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,557 shares of company stock worth $1,029,968. Company insiders own 2.00% of the company’s stock.

New York Times Stock Down 1.4 %

Shares of New York Times stock opened at $41.61 on Thursday. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 29.94 and a beta of 1.01. The New York Times Company has a twelve month low of $35.06 and a twelve month high of $49.87. The company’s fifty day moving average is $43.43 and its 200 day moving average is $44.69.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.10. New York Times had a return on equity of 16.48% and a net margin of 9.58%. The firm had revenue of $676.20 million for the quarter, compared to analyst estimates of $680.02 million. During the same quarter in the previous year, the company posted $0.65 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, equities analysts anticipate that The New York Times Company will post 1.64 earnings per share for the current fiscal year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Tuesday, April 2nd will be issued 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 is Monday, April 1st. This represents a $0.52 annualized dividend and a yield of 1.25%. New York Times’s dividend payout ratio (DPR) is presently 37.41%.

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.