Jackson Square Partners LLC Lowers Stock Position in The New York Times Company (NYSE:NYT)

Jackson Square Partners LLC trimmed its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 57.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,552 shares of the company's stock after selling 631,040 shares during the quarter. New York Times makes up about 2.6% of Jackson Square Partners LLC's portfolio, making the stock its 14th largest holding. Jackson Square Partners LLC owned about 0.28% of New York Times worth $23,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in NYT. Baillie Gifford & Co. lifted its stake in shares of New York Times by 228.3% in the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company's stock valued at $132,040,000 after acquiring an additional 1,764,078 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of New York Times by 117.5% during the fourth quarter. Allianz Asset Management GmbH now owns 518,083 shares of the company's stock valued at $26,966,000 after purchasing an additional 279,899 shares in the last quarter. Clark & Stuart Inc bought a new stake in shares of New York Times during the fourth quarter worth about $8,490,000. Bank of New York Mellon Corp increased its stake in shares of New York Times by 10.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,681,384 shares of the company's stock valued at $87,516,000 after buying an additional 159,073 shares during the period. Finally, FMR LLC raised its holdings in New York Times by 41.9% in the 3rd quarter. FMR LLC now owns 524,032 shares of the company's stock valued at $29,173,000 after buying an additional 154,822 shares during the last quarter. Institutional investors own 95.37% of the company's stock.

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New York Times Stock Performance

Shares of NYSE:NYT traded down $0.01 during midday trading on Friday, reaching $48.97. The company's stock had a trading volume of 1,237,064 shares, compared to its average volume of 1,265,305. 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 50 day moving average price of $49.93 and a two-hundred day moving average price of $52.71. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. As a group, research analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This is an increase from New York Times's previous quarterly dividend of $0.13. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. New York Times's dividend payout ratio (DPR) is currently 40.45%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com raised shares of New York Times from a "hold" rating to a "buy" rating in a research note on Thursday, February 13th. Morgan Stanley reduced their price target on New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $56.00.

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.