Stevens Capital Management LP Buys New Position in The New York Times Company (NYSE:NYT)

Stevens Capital Management LP purchased a new position in The New York Times Company (NYSE:NYT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,920 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. grew its position in New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after acquiring an additional 49,853 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of New York Times by 95.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock worth $4,571,000 after purchasing an additional 40,058 shares in the last quarter. Clark & Stuart Inc purchased a new position in shares of New York Times in the 4th quarter worth about $8,490,000. Park Avenue Securities LLC increased its position in shares of New York Times by 236.0% during the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock valued at $728,000 after purchasing an additional 9,823 shares during the last quarter. Finally, Figure 8 Investment Strategies LLC purchased a new position in shares of New York Times during the 4th quarter valued at about $492,000. Institutional investors own 95.37% of the company’s stock.

New York Times Stock Down 0.1 %

Shares of NYT opened at $48.62 on Tuesday. The firm has a fifty day simple moving average of $50.16 and a two-hundred day simple moving average of $52.81. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $58.16. The stock has a market capitalization of $7.94 billion, a P/E ratio of 27.31, a PEG ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. Sell-side analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Increases Dividend

The business also recently declared 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 annualized dividend and a yield of 1.48%. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s payout ratio is 40.45%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley cut their price objective 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 four have given a buy rating to the stock. Based on data from MarketBeat, New York Times presently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

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.