Wellington Management Group LLP Reduces Position in The New York Times Company (NYSE:NYT)

Wellington Management Group LLP reduced its stake in The New York Times Company (NYSE:NYT - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,523,326 shares of the company's stock after selling 551,188 shares during the period. Wellington Management Group LLP owned 3.38% of New York Times worth $287,489,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in shares of New York Times by 1.5% in the 3rd 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 period. BNP Paribas Financial Markets raised its holdings in New York Times by 95.3% during the third quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company's stock worth $4,571,000 after buying an additional 40,058 shares during the last quarter. Clark & Stuart Inc bought a new position in shares of New York Times in the fourth quarter valued at $8,490,000. Park Avenue Securities LLC grew its holdings in shares of New York Times by 236.0% during the fourth quarter. Park Avenue Securities LLC now owns 13,985 shares of the company's stock valued at $728,000 after buying an additional 9,823 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of New York Times during the fourth quarter worth about $1,200,000. 95.37% of the stock is owned by institutional investors.

New York Times Stock Performance

NYSE:NYT traded down $1.21 on Friday, hitting $47.54. The stock had a trading volume of 2,467,022 shares, compared to its average volume of 1,279,246. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The firm's fifty day simple moving average is $49.56 and its two-hundred day simple moving average is $52.53. The stock has a market cap of $7.76 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18.

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New York Times (NYSE:NYT - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.18 per share. This is an increase from New York Times's previous quarterly dividend of $0.13. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, April 1st. New York Times's dividend payout ratio is currently 40.45%.

Wall Street Analyst Weigh In

NYT has been the topic of several recent research reports. StockNews.com cut shares of New York Times from a "buy" rating to a "hold" rating in a research report on Thursday. Morgan Stanley dropped their target price on New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, New York Times currently has an average rating of "Moderate Buy" and a consensus target price of $56.00.

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.