Farringdon Capital Ltd. Invests $304,000 in The New York Times Company (NYSE:NYT)

Farringdon Capital Ltd. acquired a new position in shares of The New York Times Company (NYSE:NYT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,840 shares of the company's stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in New York Times by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company's stock valued at $822,408,000 after purchasing an additional 63,856 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of New York Times by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company's stock valued at $210,084,000 after buying an additional 102,519 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of New York Times by 13.3% during the 4th quarter. Renaissance Technologies LLC now owns 3,570,380 shares of the company's stock worth $185,838,000 after acquiring an additional 418,155 shares during the period. Franklin Resources Inc. increased its stake in shares of New York Times by 0.7% in the fourth quarter. Franklin Resources Inc. now owns 3,376,517 shares of the company's stock worth $175,748,000 after purchasing an additional 22,725 shares in the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of New York Times by 228.3% in the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company's stock worth $132,040,000 after purchasing an additional 1,764,078 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NYT. StockNews.com upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Morgan Stanley reduced 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 note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, New York Times has a consensus rating of "Moderate Buy" and an average target price of $56.00.

New York Times Stock Up 0.1 %

NYSE:NYT traded up $0.06 during mid-day trading on Thursday, hitting $50.50. 242,993 shares of the stock traded hands, compared to its average volume of 1,801,186. The business's 50-day moving average price is $48.46 and its 200 day moving average price is $51.88. The company has a market cap of $8.25 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 1.75 and a beta of 1.10. The New York Times Company has a 12-month low of $42.33 and a 12-month high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate 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 business also recently announced a quarterly dividend, which was paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This is a positive change from New York Times's previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a yield of 1.43%. New York Times's payout ratio is presently 40.45%.

New York Times 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.