Charles Schwab Investment Management Inc. Acquires 7,654 Shares of The New York Times Company (NYSE:NYT)

Charles Schwab Investment Management Inc. boosted its holdings in shares of The New York Times Company (NYSE:NYT) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,862,569 shares of the company’s stock after purchasing an additional 7,654 shares during the period. Charles Schwab Investment Management Inc.’s holdings in New York Times were worth $103,689,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in shares of New York Times by 72.9% in the 1st quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock valued at $5,308,000 after acquiring an additional 51,801 shares during the last quarter. Comerica Bank lifted its stake in shares of New York Times by 15.6% in the 1st quarter. Comerica Bank now owns 83,282 shares of the company’s stock valued at $3,599,000 after acquiring an additional 11,234 shares during the last quarter. Comgest Global Investors S.A.S. lifted its stake in shares of New York Times by 3.2% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company’s stock valued at $25,721,000 after acquiring an additional 14,407 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of New York Times in the 1st quarter valued at $2,623,000. Finally, Tidal Investments LLC lifted its stake in shares of New York Times by 391.9% in the 1st quarter. Tidal Investments LLC now owns 25,009 shares of the company’s stock valued at $1,081,000 after acquiring an additional 19,925 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

New York Times Trading Down 0.7 %

Shares of New York Times stock opened at $54.66 on Wednesday. The business has a 50-day moving average price of $54.84 and a two-hundred day moving average price of $53.14. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $57.08. The company has a market cap of $8.96 billion, a P/E ratio of 32.34, a PEG ratio of 1.72 and a beta of 1.02.

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, topping 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 during the quarter, compared to the consensus estimate of $641.00 million. During the same period last year, the business posted $0.37 EPS. The business’s revenue was up 7.0% compared to the same quarter last year. 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 company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.95%. New York Times’s dividend payout ratio is presently 30.77%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NYT shares. JPMorgan Chase & Co. increased their price target 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. Deutsche Bank Aktiengesellschaft raised their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Barclays raised their target price on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.83.

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.