BlackDiamond Wealth Management LLC Decreases Holdings in The New York Times Company (NYSE:NYT)

BlackDiamond Wealth Management LLC lessened its stake in shares of The New York Times Company (NYSE:NYT) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,910 shares of the company’s stock after selling 1,206 shares during the period. BlackDiamond Wealth Management LLC’s holdings in New York Times were worth $516,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NYT. Baillie Gifford & Co. increased its holdings in New York Times by 228.3% during the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock worth $132,040,000 after buying an additional 1,764,078 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in New York Times by 117.5% during the fourth quarter. Allianz Asset Management GmbH now owns 518,083 shares of the company’s stock worth $26,966,000 after buying an additional 279,899 shares during the last quarter. Clark & Stuart Inc purchased a new stake in New York Times during the fourth quarter worth about $8,490,000. Bank of New York Mellon Corp increased its holdings in New York Times by 10.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,681,384 shares of the company’s stock worth $87,516,000 after buying an additional 159,073 shares during the last quarter. Finally, FMR LLC increased its holdings in New York Times by 41.9% during the third quarter. FMR LLC now owns 524,032 shares of the company’s stock worth $29,173,000 after buying an additional 154,822 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Down 0.8 %

Shares of NYSE:NYT opened at $48.51 on Tuesday. The company has a 50-day moving average price of $50.44 and a two-hundred day moving average price of $53.01. The New York Times Company has a twelve month low of $41.55 and a twelve month high of $58.16. The firm has a market capitalization of $7.92 billion, a PE ratio of 27.25, a P/E/G ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. Analysts anticipate that The New York Times Company will post 2.08 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. Stockholders of record on Tuesday, April 1st will be given a $0.18 dividend. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio (DPR) is 40.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley cut their target price on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.00.

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.