Harvest Fund Management Co. Ltd Boosts Stake in The New York Times Company (NYSE:NYT)

Harvest Fund Management Co. Ltd raised its holdings in The New York Times Company (NYSE:NYT) by 70.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,005 shares of the company’s stock after buying an additional 2,492 shares during the period. Harvest Fund Management Co. Ltd’s holdings in New York Times were worth $294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in shares of New York Times by 42.8% in the 3rd quarter. SG Americas Securities LLC now owns 64,138 shares of the company’s stock valued at $2,642,000 after purchasing an additional 19,222 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of New York Times in the 3rd quarter valued at $613,000. Oak Thistle LLC acquired a new stake in shares of New York Times in the 3rd quarter valued at $816,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of New York Times by 127.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 41,450 shares of the company’s stock valued at $1,708,000 after purchasing an additional 23,250 shares in the last quarter. Finally, Xponance Inc. raised its holdings in shares of New York Times by 13.0% in the 3rd quarter. Xponance Inc. now owns 22,468 shares of the company’s stock valued at $926,000 after purchasing an additional 2,586 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NYT shares. Argus upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, March 4th. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, Citigroup initiated coverage on shares of New York Times in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.67.

New York Times Trading Up 0.2 %

NYT stock opened at $43.30 on Thursday. The company has a market cap of $7.11 billion, a P/E ratio of 31.15 and a beta of 1.01. The New York Times Company has a 52 week low of $35.06 and a 52 week high of $49.87. The company’s 50-day moving average price is $43.30 and its 200 day moving average price is $44.74.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.10. The firm had revenue of $676.20 million for the quarter, compared to the consensus estimate of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. On average, equities research analysts expect that The New York Times Company will post 1.64 earnings per share for the current year.

New York Times Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, April 2nd were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, April 1st. This represents a $0.52 dividend on an annualized basis and a yield of 1.20%. This is a boost from New York Times’s previous quarterly dividend of $0.11. New York Times’s payout ratio is presently 37.41%.

Insiders Place Their Bets

In other news, EVP Diane Brayton sold 7,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Diane Brayton sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the transaction, the executive vice president now owns 39,312 shares of the company’s stock, valued at $1,684,126.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Levien Meredith A. Kopit sold 13,543 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $44.11, for a total transaction of $597,381.73. Following the transaction, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,557 shares of company stock worth $1,029,968. Insiders own 2.00% of the company’s stock.

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.