Kestra Investment Management LLC Purchases Shares of 6,497 The New York Times Company (NYSE:NYT)

Kestra Investment Management LLC acquired a new position in shares of The New York Times Company (NYSE:NYT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,497 shares of the company’s stock, valued at approximately $338,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. UMB Bank n.a. lifted its position in shares of 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 purchasing an additional 283 shares during the period. GAMMA Investing LLC boosted its stake in New York Times by 20.2% during the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock worth $131,000 after acquiring an additional 424 shares in the last quarter. Portfolio Design Labs LLC acquired a new stake in New York Times in the fourth quarter worth $202,000. Empower Advisory Group LLC acquired a new stake in New York Times in the third quarter worth $205,000. Finally, Synergy Financial Group LTD bought a new stake in New York Times in the third quarter valued at $217,000. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Stock Up 0.6 %

Shares of NYSE:NYT opened at $49.47 on Thursday. The business’s 50 day moving average is $52.35 and its 200 day moving average is $53.80. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $58.16. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.78 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. As a group, equities research analysts expect that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The company also recently disclosed 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 represents a $0.72 dividend on an annualized basis and a yield of 1.46%. This is an increase from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio is presently 40.45%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft increased their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley decreased their price target 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $54.71.

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.