Arizona State Retirement System Acquires 330 Shares of The New York Times Company (NYSE:NYT)

Arizona State Retirement System boosted its holdings in The New York Times Company (NYSE:NYT) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 45,064 shares of the company’s stock after purchasing an additional 330 shares during the quarter. Arizona State Retirement System’s holdings in New York Times were worth $2,346,000 at the end of the most recent quarter.

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

New York Times Trading Up 1.1 %

Shares of New York Times stock opened at $49.74 on Tuesday. The stock has a fifty day simple moving average of $50.84 and a 200 day simple moving average of $53.24. The New York Times Company has a 12-month low of $41.55 and a 12-month high of $58.16. The company has a market capitalization of $8.12 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last announced 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 predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 1.45%. This is an increase from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio is 40.45%.

Analysts Set New Price Targets

NYT has been the subject of several recent research reports. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley decreased their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.33.

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.