R Squared Ltd Purchases Shares of 7,236 The New York Times Company (NYSE:NYT)

R Squared Ltd acquired a new position in shares of The New York Times Company (NYSE:NYT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,236 shares of the company’s stock, valued at approximately $377,000.

Other large investors have also modified their holdings of the company. Creative Planning increased its position in shares of New York Times by 9.6% during the second quarter. Creative Planning now owns 10,383 shares of the company’s stock worth $532,000 after purchasing an additional 912 shares in the last quarter. Brown Financial Advisors acquired a new position in New York Times during the second quarter worth approximately $760,000. Mattson Financial Services LLC purchased a new stake in New York Times in the second quarter valued at approximately $1,341,000. Handelsbanken Fonder AB boosted its holdings in shares of New York Times by 20.6% in the third quarter. Handelsbanken Fonder AB now owns 46,304 shares of the company’s stock valued at $2,578,000 after acquiring an additional 7,900 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of New York Times by 49.7% during the third quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock worth $117,000 after acquiring an additional 698 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

NYSE:NYT opened at $54.26 on Wednesday. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 1.51 and a beta of 1.00. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The stock has a fifty day moving average price of $53.39 and a two-hundred day moving average price of $54.06.

New York Times (NYSE:NYT) last issued its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The company had revenue of $640.20 million for the quarter, compared to analyst estimates of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. On average, analysts predict that The New York Times Company will post 1.84 EPS for the current year.

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, January 10th. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NYT shares. Deutsche Bank Aktiengesellschaft increased their price target 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. JPMorgan Chase & Co. raised their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.83.

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.