Tidal Investments LLC Acquires 3,071 Shares of The New York Times Company (NYSE:NYT)

Tidal Investments LLC grew its holdings in shares of The New York Times Company (NYSE:NYT) by 17.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,715 shares of the company’s stock after acquiring an additional 3,071 shares during the quarter. Tidal Investments LLC’s holdings in New York Times were worth $1,153,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Coldstream Capital Management Inc. grew its position in New York Times by 4.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock worth $260,000 after acquiring an additional 193 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of New York Times by 2.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock valued at $608,000 after purchasing an additional 247 shares in the last quarter. KBC Group NV grew its holdings in shares of New York Times by 0.4% during the third quarter. KBC Group NV now owns 75,917 shares of the company’s stock worth $4,226,000 after purchasing an additional 308 shares during the last quarter. Hixon Zuercher LLC increased its stake in shares of New York Times by 2.9% in the third quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock valued at $696,000 after buying an additional 354 shares during the period. Finally, UMB Bank n.a. raised its holdings in New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analysts Forecast Growth

NYT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.83.

New York Times Stock Performance

NYSE:NYT opened at $53.27 on Friday. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16. The firm’s fifty day moving average is $54.74 and its 200-day moving average is $53.73. The firm has a market cap of $8.73 billion, a P/E ratio of 31.52, a P/E/G ratio of 1.75 and a beta of 1.00.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The business had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that The New York Times Company will post 1.84 earnings per share for the current year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 9th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.98%. New York Times’s dividend payout ratio is currently 30.77%.

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.