Royal Bank of Canada Increases Stock Holdings in The New York Times Company (NYSE:NYT)

Royal Bank of Canada lifted its holdings in shares of The New York Times Company (NYSE:NYT - Free Report) by 9.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 315,985 shares of the company's stock after purchasing an additional 28,331 shares during the quarter. Royal Bank of Canada owned about 0.19% of New York Times worth $16,447,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in NYT. Centiva Capital LP lifted its holdings in New York Times by 58.6% during the 4th quarter. Centiva Capital LP now owns 36,031 shares of the company's stock worth $1,875,000 after buying an additional 13,311 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of New York Times in the fourth quarter valued at $1,200,000. Figure 8 Investment Strategies LLC acquired a new stake in shares of New York Times in the fourth quarter valued at $492,000. Baillie Gifford & Co. boosted its holdings in New York Times by 228.3% in the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company's stock valued at $132,040,000 after purchasing an additional 1,764,078 shares during the period. Finally, Lecap Asset Management Ltd. grew its stake in New York Times by 27.6% during the 4th quarter. Lecap Asset Management Ltd. now owns 29,473 shares of the company's stock worth $1,534,000 after purchasing an additional 6,376 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley cut their price target 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. Guggenheim boosted their target price on shares of New York Times from $52.00 to $53.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen raised New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.00.

New York Times Price Performance

Shares of NYSE:NYT traded down $0.04 during trading on Wednesday, hitting $55.41. 1,018,599 shares of the company were exchanged, compared to its average volume of 1,350,041. The firm's 50 day moving average price is $50.99 and its 200-day moving average price is $51.58. The New York Times Company has a 12-month low of $44.83 and a 12-month high of $58.16. The stock has a market capitalization of $9.03 billion, a P/E ratio of 31.13, a PEG ratio of 1.75 and a beta of 1.16.

New York Times (NYSE:NYT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. The firm had revenue of $635.91 million for the quarter, compared to analyst estimates of $634.99 million. During the same period last year, the business earned $0.31 EPS. New York Times's revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

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.