Alliancebernstein L.P. Has $99.34 Million Position in The New York Times Company (NYSE:NYT)

Alliancebernstein L.P. raised its holdings in shares of The New York Times Company (NYSE:NYT) by 87.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,908,477 shares of the company’s stock after purchasing an additional 891,249 shares during the quarter. Alliancebernstein L.P. owned approximately 1.16% of New York Times worth $99,336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in New York Times by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company’s stock worth $822,408,000 after purchasing an additional 63,856 shares during the last quarter. Wellington Management Group LLP increased its position in New York Times by 2.0% during the 3rd quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock worth $338,168,000 after buying an additional 118,479 shares during the period. State Street Corp increased its position in New York Times by 0.7% during the 3rd quarter. State Street Corp now owns 4,785,844 shares of the company’s stock worth $266,428,000 after buying an additional 32,905 shares during the period. Geode Capital Management LLC boosted its position in shares of New York Times by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock valued at $218,978,000 after acquiring an additional 154,509 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after acquiring an additional 49,853 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

New York Times Trading Down 1.1 %

Shares of NYSE:NYT opened at $49.59 on Thursday. The firm has a 50 day moving average of $49.77 and a 200-day moving average of $52.64. 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 $8.10 billion, a PE ratio of 27.86, a PEG ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last released its earnings results 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 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 announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be paid 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 of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 1.45%. New York Times’s payout ratio is presently 40.45%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Morgan Stanley cut their price objective on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, New York Times has an average 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.