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

LGT Group Foundation raised its position in shares of The New York Times Company (NYSE:NYT) by 43.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 903,097 shares of the company’s stock after purchasing an additional 275,212 shares during the quarter. New York Times accounts for 1.0% of LGT Group Foundation’s investment portfolio, making the stock its 24th biggest holding. LGT Group Foundation owned about 0.55% of New York Times worth $43,827,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NYT. Contravisory Investment Management Inc. acquired a new stake in New York Times during the 4th quarter valued at $27,000. GAMMA Investing LLC acquired a new stake in New York Times during the 4th quarter valued at $31,000. DekaBank Deutsche Girozentrale acquired a new stake in New York Times during the 3rd quarter valued at $37,000. Covestor Ltd raised its stake in New York Times by 9.6% during the 3rd quarter. Covestor Ltd now owns 2,659 shares of the company’s stock valued at $110,000 after purchasing an additional 232 shares during the period. Finally, NBC Securities Inc. acquired a new stake in New York Times during the 3rd quarter valued at $120,000. 95.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David S. Perpich sold 3,014 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the sale, the director now directly owns 20,813 shares of the company’s stock, valued at $916,396.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director David S. Perpich sold 3,014 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $44.03, for a total value of $132,706.42. Following the sale, the director now directly owns 20,813 shares of the company’s stock, valued at $916,396.39. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Diane Brayton sold 7,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total value of $299,880.00. Following the completion of the sale, the executive vice president now directly owns 39,312 shares in the company, valued at $1,684,126.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,557 shares of company stock valued at $1,029,968. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Citigroup assumed coverage on New York Times in a report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective for the company. Finally, Argus upgraded New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.67.

New York Times Trading Up 1.9 %

NYSE NYT traded up $0.84 during trading on Thursday, hitting $44.17. 290,018 shares of the company traded hands, compared to its average volume of 1,249,015. The New York Times Company has a 12 month low of $35.06 and a 12 month high of $49.87. The business has a fifty day simple moving average of $43.26 and a 200 day simple moving average of $44.77. The company has a market capitalization of $7.25 billion, a P/E ratio of 31.17 and a beta of 1.00.

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

New York Times Increases Dividend

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

New York Times 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.