Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of The New York Times Company (NYSE:NYT – Free Report) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 501,130 shares of the company’s stock after selling 4,550 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in New York Times were worth $20,647,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp lifted its holdings in shares of New York Times by 2.3% during the 3rd quarter. Fifth Third Bancorp now owns 12,134 shares of the company’s stock valued at $500,000 after purchasing an additional 276 shares in the last quarter. Mariner LLC lifted its holdings in shares of New York Times by 1.0% during the 4th quarter. Mariner LLC now owns 28,504 shares of the company’s stock valued at $925,000 after purchasing an additional 288 shares in the last quarter. BlackDiamond Wealth Management Inc. lifted its holdings in shares of New York Times by 2.4% during the 2nd quarter. BlackDiamond Wealth Management Inc. now owns 14,302 shares of the company’s stock valued at $578,000 after purchasing an additional 331 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of New York Times by 1.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 21,607 shares of the company’s stock valued at $991,000 after purchasing an additional 354 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its stake in New York Times by 31.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,510 shares of the company’s stock valued at $59,000 after acquiring an additional 365 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.
New York Times Stock Up 0.4 %
Shares of New York Times stock opened at $43.90 on Monday. The New York Times Company has a 12-month low of $35.06 and a 12-month high of $49.87. The stock has a market cap of $7.22 billion, a P/E ratio of 31.58 and a beta of 1.08. The business’s 50 day moving average is $47.43 and its 200-day moving average is $44.40.
New York Times Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Tuesday, April 2nd will be paid a dividend of $0.13 per share. The ex-dividend date is Monday, April 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from New York Times’s previous quarterly dividend of $0.11. New York Times’s dividend payout ratio is currently 31.65%.
Analyst Ratings Changes
Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on New York Times from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, November 9th. StockNews.com cut New York Times from a “buy” rating to a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $42.75.
New York Times Profile
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com website.
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