Mirae Asset Global Investments Co. Ltd. Acquires New Stake in The New York Times Company (NYSE:NYT)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of The New York Times Company (NYSE:NYT) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 7,943 shares of the company’s stock, valued at approximately $417,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. lifted its stake 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 acquiring an additional 360 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of New York Times by 20.2% in the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock valued at $131,000 after purchasing an additional 424 shares during the last quarter. Empower Advisory Group LLC bought a new stake in shares of New York Times in the third quarter worth $205,000. Synergy Financial Group LTD acquired a new position in New York Times during the third quarter worth $217,000. Finally, Summit Global Investments bought a new position in New York Times in the third quarter valued at $220,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on NYT shares. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley dropped their price target on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.71.

New York Times Stock Performance

NYT stock opened at $50.38 on Thursday. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $58.16. The company’s 50-day simple moving average is $53.02 and its 200 day simple moving average is $53.94. The company has a market capitalization of $8.26 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. On average, analysts forecast that The New York Times Company will post 2.07 EPS for the current year.

New York Times Increases Dividend

The business 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 $0.18 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.43%. New York Times’s payout ratio is currently 29.21%.

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.