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

Baillie Gifford & Co. boosted its position in shares of The New York Times Company (NYSE:NYT) by 228.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,536,795 shares of the company’s stock after purchasing an additional 1,764,078 shares during the period. Baillie Gifford & Co. owned approximately 1.55% of New York Times worth $132,040,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in New York Times by 2.0% during the 3rd quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock valued at $338,168,000 after acquiring an additional 118,479 shares during the last quarter. State Street Corp boosted its stake in New York Times by 0.7% during the 3rd quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after acquiring an additional 32,905 shares during the last quarter. Geode Capital Management LLC boosted its stake in New York Times by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock valued at $218,978,000 after acquiring an additional 154,509 shares during the last quarter. Franklin Resources Inc. boosted its stake in New York Times by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after acquiring an additional 49,853 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in New York Times by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,862,569 shares of the company’s stock valued at $103,689,000 after acquiring an additional 7,654 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley reduced their price target on shares of 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. Finally, StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.71.

New York Times Stock Down 2.0 %

Shares of NYSE:NYT opened at $49.74 on Tuesday. The company has a market cap of $8.15 billion, a PE ratio of 27.94, a P/E/G ratio of 1.35 and a beta of 1.01. The company’s 50-day moving average price is $52.72 and its 200 day moving average price is $53.87. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 earnings per share 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%. As a group, equities analysts anticipate that The New York Times Company will post 2.07 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. Shareholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. This is a boost from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 annualized dividend and a yield of 1.45%. New York Times’s dividend payout ratio (DPR) is presently 29.21%.

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.