Proficio Capital Partners LLC Makes New Investment in The New York Times Company (NYSE:NYT)

Proficio Capital Partners LLC bought a new position in shares of The New York Times Company (NYSE:NYT) during the fourth quarter, HoldingsChannel reports. The firm bought 23,060 shares of the company’s stock, valued at approximately $1,200,000.

Other large investors also recently bought and sold shares of the company. Coldstream Capital Management Inc. lifted its holdings in shares of New York Times by 4.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,666 shares of the company’s stock worth $260,000 after purchasing an additional 193 shares during the last quarter. Brown Financial Advisors lifted its holdings in shares of New York Times by 2.3% in the 4th quarter. Brown Financial Advisors now owns 8,996 shares of the company’s stock worth $468,000 after purchasing an additional 200 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of New York Times by 0.7% in the 4th quarter. IFP Advisors Inc now owns 34,368 shares of the company’s stock worth $1,789,000 after purchasing an additional 224 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after purchasing an additional 247 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of New York Times by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 5,092 shares of the company’s stock worth $265,000 after purchasing an additional 269 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NYT. Morgan Stanley cut their price target on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

New York Times Price Performance

NYT opened at $48.55 on Friday. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $58.16. The stock has a market cap of $7.93 billion, a P/E ratio of 27.27, a P/E/G ratio of 1.75 and a beta of 1.18. The stock’s 50 day moving average price is $50.25 and its 200 day moving average price is $52.91.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. Equities analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. 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 dividend yield of 1.48%. New York Times’s dividend payout ratio (DPR) is 40.45%.

New York Times 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.