Canada Pension Plan Investment Board Purchases New Position in The New York Times Company (NYSE:NYT)

Canada Pension Plan Investment Board acquired a new position in shares of The New York Times Company (NYSE:NYT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,800 shares of the company’s stock, valued at approximately $250,000.

Several other hedge funds also recently modified their holdings of NYT. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in New York Times by 511.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock worth $25,000 after acquiring an additional 394 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in shares of New York Times during the fourth quarter worth $36,000. UMB Bank n.a. increased its stake in shares of New York Times by 61.4% in the fourth quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after buying an additional 283 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of New York Times by 27.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after buying an additional 247 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in New York Times by 12.6% during the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after buying an additional 212 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Morgan Stanley dropped their target price on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.00.

New York Times Price Performance

Shares of NYSE NYT opened at $51.24 on Friday. The New York Times Company has a fifty-two week low of $42.71 and a fifty-two week high of $58.16. The firm has a market capitalization of $8.37 billion, a P/E ratio of 28.79, a P/E/G ratio of 1.75 and a beta of 1.10. The company’s 50 day simple moving average is $48.52 and its 200 day simple moving average is $51.82.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share 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%. Sell-side analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.18 per share. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Tuesday, April 1st. New York Times’s payout ratio is presently 40.45%.

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.