LGT Group Foundation Has $43.83 Million Stock Holdings in The New York Times Company (NYSE:NYT)

LGT Group Foundation increased its position in shares of The New York Times Company (NYSE:NYT) by 43.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 903,097 shares of the company’s stock after acquiring an additional 275,212 shares during the period. New York Times comprises 1.0% of LGT Group Foundation’s holdings, making the stock its 24th largest holding. LGT Group Foundation’s holdings in New York Times were worth $43,827,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NYT. New York Life Investment Management LLC boosted its position in New York Times by 6.5% in the fourth quarter. New York Life Investment Management LLC now owns 18,193 shares of the company’s stock valued at $891,000 after buying an additional 1,105 shares in the last quarter. Victory Capital Management Inc. boosted its position in New York Times by 579.1% in the fourth quarter. Victory Capital Management Inc. now owns 197,571 shares of the company’s stock valued at $9,679,000 after buying an additional 168,480 shares in the last quarter. Van ECK Associates Corp boosted its position in New York Times by 45.2% in the fourth quarter. Van ECK Associates Corp now owns 40,869 shares of the company’s stock valued at $2,002,000 after buying an additional 12,717 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in New York Times in the fourth quarter valued at approximately $470,000. Finally, Harvest Fund Management Co. Ltd boosted its position in New York Times by 70.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 6,005 shares of the company’s stock valued at $294,000 after buying an additional 2,492 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Up 1.9 %

Shares of NYT stock traded up $0.84 during trading hours on Thursday, hitting $44.17. 290,018 shares of the company’s stock traded hands, compared to its average volume of 1,249,015. The stock’s 50 day simple moving average is $43.26 and its 200 day simple moving average is $44.77. The stock has a market cap of $7.25 billion, a PE ratio of 31.17 and a beta of 1.00. The New York Times Company has a 12 month low of $35.06 and a 12 month high of $49.87.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.10. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The firm had revenue of $676.20 million during the quarter, compared to the consensus estimate of $680.02 million. During the same quarter last year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts expect that The New York Times Company will post 1.64 EPS for the current fiscal year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Monday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.11. New York Times’s dividend payout ratio (DPR) is currently 37.41%.

Analysts Set New Price Targets

NYT has been the topic of a number of research analyst reports. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Citigroup assumed coverage on shares of New York Times in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target for the company. Finally, Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, New York Times has an average rating of “Moderate Buy” and an average target price of $45.67.

Insider Buying and Selling

In related news, EVP Diane Brayton sold 7,000 shares of New York Times stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Diane Brayton sold 7,000 shares of New York Times stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David S. Perpich sold 3,014 shares of New York Times stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total transaction of $132,706.42. Following the transaction, the director now directly owns 20,813 shares of the company’s stock, valued at approximately $916,396.39. The disclosure for this sale can be found here. Insiders sold 23,557 shares of company stock valued at $1,029,968 over the last quarter. Insiders own 2.00% of the company’s stock.

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.