Summit Investment Advisors Inc. Has $1.70 Million Stake in The New York Times Company (NYSE:NYT)

Summit Investment Advisors Inc. cut its stake in shares of The New York Times Company (NYSE:NYT) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,683 shares of the company’s stock after selling 850 shares during the quarter. Summit Investment Advisors Inc.’s holdings in New York Times were worth $1,701,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of New York Times by 113.2% in the third quarter. Barclays PLC now owns 123,256 shares of the company’s stock worth $6,862,000 after acquiring an additional 65,438 shares during the period. Coldstream Capital Management Inc. raised its holdings in New York Times by 4.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock worth $260,000 after purchasing an additional 193 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of New York Times in the 3rd quarter worth approximately $278,000. Tidal Investments LLC boosted its stake in shares of New York Times by 17.4% in the 3rd quarter. Tidal Investments LLC now owns 20,715 shares of the company’s stock valued at $1,153,000 after purchasing an additional 3,071 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of New York Times by 1.5% during the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after buying an additional 49,853 shares during the period. Institutional investors own 95.37% of the company’s stock.

New York Times Trading Up 0.5 %

NYSE:NYT opened at $48.74 on Wednesday. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $58.16. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 1.75 and a beta of 1.10. The firm has a fifty day simple moving average of $48.49 and a two-hundred day simple moving average of $52.09.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating 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%. Equities analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This is an increase from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. New York Times’s payout ratio is currently 40.45%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NYT shares. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Morgan Stanley dropped 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.