Sterling Capital Management LLC Buys 3,399 Shares of The New York Times Company (NYSE:NYT)

Sterling Capital Management LLC grew its stake in shares of The New York Times Company (NYSE:NYT) by 55.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 9,528 shares of the company’s stock after acquiring an additional 3,399 shares during the period. Sterling Capital Management LLC’s holdings in New York Times were worth $496,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quinn Opportunity Partners LLC bought a new position in shares of New York Times during the fourth quarter valued at $10,962,000. Treasurer of the State of North Carolina raised its holdings in New York Times by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 70,687 shares of the company’s stock worth $3,679,000 after purchasing an additional 440 shares during the period. Capital Fund Management S.A. lifted its position in shares of New York Times by 2.3% during the 4th quarter. Capital Fund Management S.A. now owns 297,487 shares of the company’s stock valued at $15,484,000 after buying an additional 6,618 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of New York Times by 12.6% during 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 during the period. Finally, Raymond James Financial Inc. purchased a new stake in New York Times in the 4th quarter worth approximately $1,544,000. 95.37% of the stock is currently owned by institutional investors.

New York Times Stock Performance

NYT stock opened at $49.23 on Friday. The company has a market capitalization of $8.04 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10. The company’s fifty day moving average price is $48.50 and its 200-day moving average price is $52.03. The New York Times Company has a one year low of $41.55 and a one year high of $58.16.

New York Times (NYSE:NYT) last released 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 return on equity of 18.51% and a net margin of 11.36%. On average, research analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.46%. This is a positive change from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date was Tuesday, April 1st. New York Times’s dividend payout ratio (DPR) is presently 40.45%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Morgan Stanley lowered their price target on shares of 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. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.