The New York Times Company (NYSE:NYT) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. trimmed its holdings in shares of The New York Times Company (NYSE:NYT) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 772,717 shares of the company’s stock after selling 14,454 shares during the quarter. Baillie Gifford & Co. owned 0.47% of New York Times worth $43,017,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farallon Capital Management LLC increased its position in shares of New York Times by 18.1% during the first quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after acquiring an additional 1,711,268 shares during the last quarter. Darsana Capital Partners LP boosted its position in shares of New York Times by 25.0% during the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock worth $320,062,000 after purchasing an additional 1,250,000 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in New York Times in the 1st quarter valued at approximately $42,434,000. Renaissance Technologies LLC raised its position in New York Times by 19.8% in the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock valued at $149,131,000 after purchasing an additional 482,200 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in New York Times by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after purchasing an additional 438,680 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NYT has been the topic of several research analyst reports. Barclays boosted their price objective on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective 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 research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.83.

New York Times Stock Performance

Shares of NYT opened at $55.18 on Wednesday. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $57.08. The stock has a market capitalization of $9.06 billion, a PE ratio of 32.65 and a beta of 1.02. The stock has a 50-day simple moving average of $54.81 and a 200-day simple moving average of $52.50.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The company had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts predict that The New York Times Company will post 1.84 EPS for the current year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is presently 30.77%.

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.