Russell Investments Group Ltd. Has $14.23 Million Stake in The New York Times Company (NYSE:NYT)

Russell Investments Group Ltd. increased its stake in shares of The New York Times Company (NYSE:NYT) by 142.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,322 shares of the company’s stock after buying an additional 160,788 shares during the quarter. Russell Investments Group Ltd. owned about 0.17% of New York Times worth $14,229,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NYT. Vanguard Group Inc. increased its position in shares of New York Times by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company’s stock worth $822,408,000 after purchasing an additional 63,856 shares during the period. Geode Capital Management LLC increased its holdings in New York Times by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company’s stock valued at $210,084,000 after buying an additional 102,519 shares during the period. Franklin Resources Inc. lifted its holdings in shares of New York Times by 0.7% during the 4th quarter. Franklin Resources Inc. now owns 3,376,517 shares of the company’s stock worth $175,748,000 after acquiring an additional 22,725 shares during the period. Baillie Gifford & Co. boosted its position 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 in the last quarter. Finally, Alliancebernstein L.P. increased its stake in New York Times by 87.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company’s stock valued at $99,336,000 after acquiring an additional 891,249 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of NYT opened at $47.88 on Friday. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.75 and a beta of 1.10. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16. The stock has a fifty day moving average of $48.67 and a 200-day moving average of $52.23.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating 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%. As a group, equities analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.50%. This is an increase from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio (DPR) is presently 40.45%.

Wall Street Analysts Forecast Growth

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

New York Times Company 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.