R Squared Ltd Invests $377,000 in The New York Times Company (NYSE:NYT)

R Squared Ltd bought a new stake in shares of The New York Times Company (NYSE:NYT) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,236 shares of the company’s stock, valued at approximately $377,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NYT. UMB Bank n.a. boosted its position in shares of New York Times by 356.4% in 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 period. GAMMA Investing LLC grew its position in New York Times by 49.7% in the third quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock valued at $117,000 after acquiring an additional 698 shares in the last quarter. Paladin Wealth LLC purchased a new stake in shares of New York Times during the third quarter valued at approximately $172,000. Empower Advisory Group LLC acquired a new position in shares of New York Times during the third quarter worth $205,000. Finally, Synergy Financial Group LTD purchased a new position in shares of New York Times in the third quarter valued at $217,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NYT. Deutsche Bank Aktiengesellschaft upped their price objective on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, New York Times has a consensus rating of “Moderate Buy” and an average target price of $54.83.

New York Times Stock Performance

NYSE:NYT opened at $54.26 on Wednesday. The stock has a 50-day simple moving average of $53.39 and a 200 day simple moving average of $54.06. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 1.51 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 EPS. On average, equities research analysts forecast that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 23rd. Investors of record on Thursday, January 9th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, January 10th. New York Times’s dividend payout ratio is presently 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.