B. Riley Wealth Advisors Inc. Acquires 1,890 Shares of The New York Times Company (NYSE:NYT)

B. Riley Wealth Advisors Inc. boosted its stake in shares of The New York Times Company (NYSE:NYT) by 34.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,441 shares of the company’s stock after acquiring an additional 1,890 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in New York Times were worth $414,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Darsana Capital Partners LP lifted its position in shares of New York Times by 25.0% during the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after purchasing an additional 1,250,000 shares in the last quarter. Wellington Management Group LLP lifted its holdings in New York Times by 2.0% during the 3rd quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock worth $338,168,000 after buying an additional 118,479 shares in the last quarter. State Street Corp boosted its position in New York Times by 0.7% in the 3rd quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after buying an additional 32,905 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of New York Times by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock valued at $218,978,000 after buying an additional 154,509 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of New York Times by 1.5% during the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after acquiring an additional 49,853 shares during the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Trading Up 0.3 %

Shares of NYT opened at $53.27 on Friday. The stock has a market cap of $8.73 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The stock’s 50-day moving average price is $54.74 and its two-hundred day moving average price is $53.73.

New York Times (NYSE:NYT) last released 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 for the quarter, compared to analyst estimates of $641.00 million. During the same quarter last year, the firm earned $0.37 EPS. New York Times’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts forecast that The New York Times Company will post 1.84 EPS for the current year.

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 9th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.98%. New York Times’s dividend payout ratio is currently 30.77%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NYT shares. Deutsche Bank Aktiengesellschaft raised their price target 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 target on shares of New York Times from $58.00 to $62.00 and gave the stock 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.