Geode Capital Management LLC Buys 102,519 Shares of The New York Times Company (NYSE:NYT)

Geode Capital Management LLC raised its stake in The New York Times Company (NYSE:NYT) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,035,335 shares of the company’s stock after buying an additional 102,519 shares during the period. Geode Capital Management LLC owned 2.46% of New York Times worth $210,084,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Franklin Resources Inc. grew its position in New York Times by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after acquiring an additional 49,853 shares during the last quarter. Clark & Stuart Inc acquired a new position in shares of New York Times in the fourth quarter valued at approximately $8,490,000. Park Avenue Securities LLC raised its holdings in New York Times by 236.0% in the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock valued at $728,000 after buying an additional 9,823 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in New York Times during the 4th quarter worth approximately $1,200,000. Finally, Figure 8 Investment Strategies LLC acquired a new stake in New York Times during the 4th quarter worth approximately $492,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of New York Times from a “buy” rating to a “hold” rating in a research note on Thursday. Morgan Stanley lowered their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

New York Times Trading Down 2.5 %

Shares of NYT opened at $47.54 on Monday. The firm’s fifty day simple moving average is $49.56 and its two-hundred day simple moving average is $52.53. 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 $7.76 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating 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%. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.51%. This is a positive change from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio is 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.