Generate Investment Management Ltd Invests $4.63 Million in The New York Times Company (NYSE:NYT)

Generate Investment Management Ltd bought a new position in shares of The New York Times Company (NYSE:NYT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 88,911 shares of the company’s stock, valued at approximately $4,628,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. increased 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 valued at $260,000 after acquiring an additional 193 shares during the period. UMB Bank n.a. boosted its stake in New York Times by 61.4% during the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after purchasing an additional 283 shares during the period. KBC Group NV grew its position in New York Times by 0.4% during the 3rd quarter. KBC Group NV now owns 75,917 shares of the company’s stock worth $4,226,000 after purchasing an additional 308 shares during the last quarter. Hixon Zuercher LLC increased its stake in New York Times by 2.9% in the third quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock valued at $696,000 after purchasing an additional 354 shares during the period. Finally, Exchange Traded Concepts LLC raised its holdings in shares of New York Times by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 14,122 shares of the company’s stock valued at $735,000 after buying an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of NYSE NYT opened at $48.79 on Friday. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The firm has a market capitalization of $8.00 billion, a P/E ratio of 28.87, a PEG ratio of 1.51 and a beta of 1.01. The company’s fifty day moving average is $53.31 and its two-hundred day moving average is $54.06.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.04% and a return on equity of 17.75%. On average, sell-side analysts forecast that The New York Times Company will post 1.84 earnings per share for the current fiscal year.

New York Times Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. The ex-dividend date 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 1.48%. New York Times’s payout ratio is currently 30.77%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley lowered their price objective 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. Finally, StockNews.com downgraded shares of New York Times from a “buy” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, New York Times currently has an average rating of “Moderate Buy” and an average target price of $54.71.

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.