Farallon Capital Management LLC lessened its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 15.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,376,113 shares of the company's stock after selling 1,368,733 shares during the quarter. New York Times comprises 1.9% of Farallon Capital Management LLC's investment portfolio, making the stock its 19th biggest holding. Farallon Capital Management LLC owned about 4.50% of New York Times worth $383,927,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in NYT. Clark & Stuart Inc purchased a new position in shares of New York Times in the 4th quarter valued at approximately $8,490,000. Park Avenue Securities LLC lifted its holdings in shares of New York Times by 236.0% in the 4th 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 period. Proficio Capital Partners LLC acquired a new stake in shares of New York Times in the 4th quarter valued at approximately $1,200,000. Figure 8 Investment Strategies LLC acquired a new stake in shares of New York Times in the 4th quarter valued at approximately $492,000. Finally, Baillie Gifford & Co. lifted its holdings 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 buying an additional 1,764,078 shares during the period. Hedge funds and other institutional investors own 95.37% of the company's stock.
Wall Street Analyst Weigh In
NYT has been the subject of several recent analyst reports. StockNews.com raised New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Morgan Stanley reduced their price target on New York Times from $56.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Finally, Guggenheim raised their price target on New York Times from $52.00 to $53.00 and gave the company a "neutral" rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, New York Times has a consensus rating of "Moderate Buy" and a consensus price target of $56.00.
Check Out Our Latest Research Report on New York Times
New York Times Stock Performance
NYT stock traded up $1.00 during midday trading on Friday, hitting $53.61. 1,849,343 shares of the stock were exchanged, compared to its average volume of 1,334,732. The stock's 50-day moving average price is $49.38 and its 200-day moving average price is $51.57. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 1.75 and a beta of 1.16. The New York Times Company has a fifty-two week low of $44.83 and a fifty-two week high of $58.16.
New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The firm had revenue of $635.91 million during the quarter, compared to analysts' expectations of $634.99 million. New York Times had a return on equity of 18.51% and a net margin of 11.36%. New York Times's revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. Research analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.
New York Times Company Profile
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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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