Braun Stacey Associates Inc. Makes New Investment in The New York Times Company (NYSE:NYT)

Braun Stacey Associates Inc. acquired a new stake in The New York Times Company (NYSE:NYT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 148,490 shares of the company’s stock, valued at approximately $8,266,000. Braun Stacey Associates Inc. owned 0.09% of New York Times at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. UMB Bank n.a. increased its position in New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after buying an additional 360 shares during the last quarter. GAMMA Investing LLC raised its stake in New York Times by 129.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after acquiring an additional 792 shares during the period. Signaturefd LLC lifted its holdings in New York Times by 34.2% during the 2nd quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after purchasing an additional 432 shares during the last quarter. Blue Trust Inc. lifted its holdings in New York Times by 401.8% during the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Paladin Wealth LLC acquired a new position in shares of New York Times in the third quarter valued at $172,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NYT has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Barclays upped their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, New York Times has an average rating of “Moderate Buy” and a consensus target price of $54.83.

New York Times Trading Down 3.2 %

Shares of NYT stock opened at $52.46 on Monday. The stock has a market cap of $8.62 billion, a P/E ratio of 31.04, a price-to-earnings-growth ratio of 1.66 and a beta of 1.02. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $57.08. The stock has a 50 day simple moving average of $54.84 and a 200 day simple moving average of $52.73.

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

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio is 30.77%.

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.