OneDigital Investment Advisors LLC Reduces Stake in The New York Times Company (NYSE:NYT)

OneDigital Investment Advisors LLC decreased its stake in shares of The New York Times Company (NYSE:NYT) by 9.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,919 shares of the company’s stock after selling 541 shares during the period. OneDigital Investment Advisors LLC’s holdings in New York Times were worth $256,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in New York Times by 511.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock worth $25,000 after purchasing an additional 394 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new stake in shares of New York Times in the 4th quarter valued at about $36,000. UMB Bank n.a. raised its holdings 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 valued at $39,000 after acquiring an additional 283 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after acquiring an additional 247 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of New York Times by 12.6% in the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock valued at $99,000 after acquiring an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Trading Up 0.3 %

Shares of NYSE NYT opened at $51.37 on Tuesday. The stock has a market cap of $8.39 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.75 and a beta of 1.10. The New York Times Company has a 1-year low of $42.71 and a 1-year high of $58.16. The stock’s 50-day moving average is $48.56 and its 200 day moving average is $51.75.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (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%. On average, analysts forecast 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 was paid on Thursday, April 17th. Investors of record on Tuesday, April 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.40%. This is a positive change from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, April 1st. New York Times’s dividend payout ratio (DPR) is presently 40.45%.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Morgan Stanley lowered their price target on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.00.

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.