Franklin Resources Inc. lifted its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,376,517 shares of the company's stock after purchasing an additional 22,725 shares during the period. Franklin Resources Inc. owned 2.06% of New York Times worth $175,748,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. increased its stake in 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 buying an additional 1,764,078 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of New York Times by 87.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company's stock valued at $99,336,000 after acquiring an additional 891,249 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of New York Times by 70.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 982,659 shares of the company's stock valued at $51,147,000 after acquiring an additional 404,558 shares during the last quarter. Allianz Asset Management GmbH lifted 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 acquiring an additional 279,899 shares during the period. Finally, Norges Bank purchased a new position in New York Times in the fourth quarter worth $13,823,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. StockNews.com downgraded New York Times from a "buy" rating to a "hold" rating in a research note on Thursday. Morgan Stanley reduced their price target 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $56.00.
Check Out Our Latest Report on New York Times
New York Times Stock Performance
NYSE NYT traded down $1.21 on Friday, hitting $47.54. 2,467,022 shares of the stock traded hands, compared to its average volume of 1,275,681. The business's fifty day moving average is $49.68 and its two-hundred day moving average is $52.62. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $58.16. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 26.71, 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 for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. Analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.
New York Times Increases Dividend
The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.51%. This is a positive change from New York Times's previous quarterly dividend of $0.13. New York Times's payout ratio is 40.45%.
About New York Times
(
Free Report)
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.
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