Edgestream Partners L.P. Purchases New Position in The New York Times Company (NYSE:NYT)

Edgestream Partners L.P. purchased a new stake in shares of The New York Times Company (NYSE:NYT) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 82,739 shares of the company’s stock, valued at approximately $4,307,000. Edgestream Partners L.P. owned about 0.05% of New York Times at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of New York Times during the 4th quarter valued at approximately $1,544,000. Arizona State Retirement System grew its holdings in shares of New York Times by 0.7% during the 4th quarter. Arizona State Retirement System now owns 45,064 shares of the company’s stock valued at $2,346,000 after purchasing an additional 330 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of New York Times during the 4th quarter valued at approximately $1,200,000. M&T Bank Corp grew its holdings in shares of New York Times by 9.6% during the 4th quarter. M&T Bank Corp now owns 11,662 shares of the company’s stock valued at $607,000 after purchasing an additional 1,024 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of New York Times by 5.9% during the 4th quarter. Assetmark Inc. now owns 47,995 shares of the company’s stock valued at $2,498,000 after purchasing an additional 2,679 shares during the last quarter. 95.37% of the stock is owned by institutional investors.

New York Times Price Performance

NYT opened at $49.25 on Friday. The company’s 50 day moving average price is $50.90 and its two-hundred day moving average price is $53.30. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.75 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. As a group, equities research analysts predict that The New York Times Company will post 2.08 EPS for the current 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 given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.46%. New York Times’s dividend payout ratio is 40.45%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NYT shares. Morgan Stanley decreased their price target on shares of 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 raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.33.

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.