LGT Fund Management Co Ltd. Has $7.98 Million Stake in The New York Times Company (NYSE:NYT)

LGT Fund Management Co Ltd. increased its stake in shares of The New York Times Company (NYSE:NYT) by 23.2% during the fourth quarter, HoldingsChannel reports. The fund owned 153,282 shares of the company’s stock after buying an additional 28,893 shares during the period. LGT Fund Management Co Ltd.’s holdings in New York Times were worth $7,978,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Baillie Gifford & Co. increased its stake in New York Times by 228.3% in the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock valued at $132,040,000 after buying an additional 1,764,078 shares during the last quarter. Allianz Asset Management GmbH increased its stake in New York Times by 117.5% in the 4th quarter. Allianz Asset Management GmbH now owns 518,083 shares of the company’s stock valued at $26,966,000 after buying an additional 279,899 shares during the last quarter. Clark & Stuart Inc acquired a new stake in New York Times in the 4th quarter valued at $8,490,000. Bank of New York Mellon Corp increased its stake in New York Times by 10.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,681,384 shares of the company’s stock valued at $87,516,000 after buying an additional 159,073 shares during the last quarter. Finally, FMR LLC increased its stake in New York Times by 41.9% in the 3rd quarter. FMR LLC now owns 524,032 shares of the company’s stock valued at $29,173,000 after buying an additional 154,822 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on NYT. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Morgan Stanley lowered their price objective on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. JPMorgan Chase & Co. boosted their price objective on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.71.

New York Times Price Performance

New York Times stock opened at $48.05 on Monday. The firm has a market capitalization of $7.88 billion, a PE ratio of 26.99, a P/E/G ratio of 1.75 and a beta of 1.01. The company’s 50-day moving average is $51.48 and its 200-day moving average is $53.53. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate 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, analysts expect that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This is an increase from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.50%. New York Times’s payout ratio is presently 40.45%.

New York Times Company 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.