Clark & Stuart Inc Takes Position in The New York Times Company (NYSE:NYT)

Clark & Stuart Inc acquired a new stake in shares of The New York Times Company (NYSE:NYT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 163,122 shares of the company's stock, valued at approximately $8,490,000. New York Times accounts for approximately 6.2% of Clark & Stuart Inc's holdings, making the stock its 3rd biggest holding. Clark & Stuart Inc owned approximately 0.10% of New York Times as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Darsana Capital Partners LP increased its holdings in shares of 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 acquiring an additional 1,250,000 shares during the period. Wellington Management Group LLP grew its stake in New York Times by 2.0% in the third quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company's stock valued at $338,168,000 after purchasing an additional 118,479 shares during the last quarter. State Street Corp raised its holdings in New York Times by 0.7% in the third quarter. State Street Corp now owns 4,785,844 shares of the company's stock worth $266,428,000 after purchasing an additional 32,905 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of New York Times by 4.1% during the third 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 last quarter. Finally, Franklin Resources Inc. lifted 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 valued at $187,544,000 after buying an additional 49,853 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

New York Times Stock Performance

NYSE NYT traded up $0.07 on Monday, reaching $50.87. 1,363,917 shares of the company's stock traded hands, compared to its average volume of 1,279,238. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 30.10, a P/E/G ratio of 1.75 and a beta of 1.00. The stock has a 50 day moving average price of $53.80 and a 200-day moving average price of $54.02.

New York Times (NYSE:NYT - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The firm had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. The company's revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Investors of record on Thursday, January 9th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, January 10th. This represents a $0.52 annualized dividend and a yield of 1.02%. New York Times's dividend payout ratio is presently 30.77%.

Analysts Set New Price Targets

NYT has been the topic of several analyst reports. 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 report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of New York Times from $65.00 to $66.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, New York Times presently has an average rating of "Moderate Buy" and an average price target 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.