The New York Times Company (NYSE:NYT) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its stake in The New York Times Company (NYSE:NYT) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,623 shares of the company’s stock after acquiring an additional 11,262 shares during the quarter. Pictet Asset Management Holding SA’s holdings in New York Times were worth $2,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. New Age Alpha Advisors LLC purchased a new position in New York Times in the 4th quarter valued at about $1,876,000. Norges Bank acquired a new position in shares of New York Times in the fourth quarter valued at approximately $13,823,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock valued at $25,000 after buying an additional 394 shares during the period. Long Corridor Asset Management Ltd boosted its position in New York Times by 200.0% during the fourth quarter. Long Corridor Asset Management Ltd now owns 90,000 shares of the company’s stock worth $4,684,000 after acquiring an additional 60,000 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in New York Times in the 4th quarter worth approximately $646,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

New York Times Stock Down 2.5 %

Shares of NYSE NYT opened at $47.54 on Friday. The stock has a market capitalization of $7.76 billion, a PE ratio of 26.71, a P/E/G ratio of 1.75 and a beta of 1.18. The firm has a fifty day moving average of $49.56 and a 200-day moving average of $52.57. The New York Times Company has a 52-week low of $41.55 and a 52-week high of $58.16.

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

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.51%. New York Times’s dividend payout ratio is 40.45%.

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.