The New York Times Company (NYSE:NYT) Shares Bought by Assetmark Inc.

Assetmark Inc. grew its holdings in shares of The New York Times Company (NYSE:NYT) by 5.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,995 shares of the company’s stock after purchasing an additional 2,679 shares during the quarter. Assetmark Inc.’s holdings in New York Times were worth $2,498,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NYT. Baillie Gifford & Co. raised its holdings in shares of New York Times by 228.3% during the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock worth $132,040,000 after acquiring an additional 1,764,078 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of New York Times by 117.5% during the 4th quarter. Allianz Asset Management GmbH now owns 518,083 shares of the company’s stock worth $26,966,000 after acquiring an additional 279,899 shares during the period. Clark & Stuart Inc purchased a new position in shares of New York Times during the 4th quarter worth $8,490,000. Bank of New York Mellon Corp raised its holdings in shares of New York Times by 10.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,681,384 shares of the company’s stock worth $87,516,000 after acquiring an additional 159,073 shares during the period. Finally, FMR LLC raised its holdings in shares of New York Times by 41.9% during the 3rd quarter. FMR LLC now owns 524,032 shares of the company’s stock worth $29,173,000 after acquiring an additional 154,822 shares during the period. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley reduced 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 five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.33.

New York Times Trading Up 4.0 %

Shares of NYT opened at $49.25 on Monday. The firm has a market cap of $8.04 billion, a P/E ratio of 27.67, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $58.16. The company’s 50-day moving average price is $50.90 and its 200 day moving average price is $53.28.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts forecast that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The business also recently disclosed 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. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, April 1st. New York Times’s payout ratio is 40.45%.

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.