Grantham Mayo Van Otterloo & Co. LLC Has $47.30 Million Stock Holdings in The New York Times Company (NYSE:NYT)

Grantham Mayo Van Otterloo & Co. LLC grew its position in The New York Times Company (NYSE:NYT) by 9.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 908,643 shares of the company’s stock after buying an additional 80,217 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.55% of New York Times worth $47,295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NYT. Franklin Resources Inc. grew its stake in New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after acquiring an additional 49,853 shares during the period. Clark & Stuart Inc acquired a new position in shares of New York Times in the 4th quarter valued at approximately $8,490,000. Park Avenue Securities LLC grew its position in shares of New York Times by 236.0% in the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock valued at $728,000 after purchasing an additional 9,823 shares during the period. Proficio Capital Partners LLC bought a new stake in New York Times during the 4th quarter worth approximately $1,200,000. Finally, Figure 8 Investment Strategies LLC acquired a new stake in New York Times during the 4th quarter worth approximately $492,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. StockNews.com cut New York Times from a “buy” rating to a “hold” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Stock Down 2.5 %

NYSE NYT opened at $47.54 on Friday. The firm’s 50 day moving average is $49.56 and its 200-day moving average is $52.57. The company has a market capitalization of $7.76 billion, a PE ratio of 26.71, 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.

New York Times (NYSE:NYT) last issued its quarterly 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, sell-side 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 declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.51%. New York Times’s dividend 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.