Sanctuary Advisors LLC Makes New $278,000 Investment in The New York Times Company (NYSE:NYT)

Sanctuary Advisors LLC purchased a new position in shares of The New York Times Company (NYSE:NYT) in the 3rd quarter, Holdings Channel reports. The firm purchased 5,140 shares of the company’s stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Darsana Capital Partners LP increased its stake in New York Times by 25.0% in the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock valued at $320,062,000 after buying an additional 1,250,000 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of New York Times by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock valued at $149,131,000 after acquiring an additional 482,200 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in New York Times by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after acquiring an additional 438,680 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in New York Times by 582.1% during the third quarter. Assenagon Asset Management S.A. now owns 361,235 shares of the company’s stock valued at $20,110,000 after purchasing an additional 308,277 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in New York Times by 964.9% in the second quarter. Bank of Montreal Can now owns 266,079 shares of the company’s stock valued at $13,637,000 after purchasing an additional 241,093 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NYT shares. Deutsche Bank Aktiengesellschaft increased their price objective on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.83.

New York Times Stock Performance

NYT opened at $53.19 on Friday. The stock has a fifty day moving average of $54.46 and a 200-day moving average of $53.85. The company has a market capitalization of $8.72 billion, a P/E ratio of 31.47, a P/E/G ratio of 1.75 and a beta of 1.00. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The business had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts predict that The New York Times Company will post 1.84 earnings per share for the current fiscal year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.98%. New York Times’s dividend payout ratio (DPR) 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.