Versor Investments LP Decreases Stake in The New York Times Company (NYSE:NYT)

Versor Investments LP cut its position in shares of The New York Times Company (NYSE:NYT) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,400 shares of the company’s stock after selling 800 shares during the period. Versor Investments LP’s holdings in New York Times were worth $593,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. grew its holdings 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 purchasing an additional 283 shares in the last quarter. GAMMA Investing LLC lifted its position in New York Times by 20.2% in the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock worth $131,000 after buying an additional 424 shares during the last quarter. Portfolio Design Labs LLC purchased a new position in New York Times during the fourth quarter worth $202,000. Empower Advisory Group LLC purchased a new stake in shares of New York Times in the third quarter valued at $205,000. Finally, Synergy Financial Group LTD bought a new stake in shares of New York Times in the 3rd quarter worth about $217,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NYT. JPMorgan Chase & Co. increased their price objective on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley reduced their price target on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.71.

New York Times Stock Performance

NYSE:NYT opened at $48.05 on Friday. The firm has a market cap of $7.88 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.75 and a beta of 1.01. The firm has a 50-day simple moving average of $51.48 and a 200-day simple moving average of $53.54. The New York Times Company has a one year low of $41.55 and a one year high of $58.16.

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

New York Times Increases Dividend

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