Stockbridge Partners LLC Has $228.30 Million Holdings in The New York Times Company (NYSE:NYT)

Stockbridge Partners LLC decreased its stake in shares of The New York Times Company (NYSE:NYT - Free Report) by 30.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,386,211 shares of the company's stock after selling 1,936,050 shares during the period. New York Times accounts for about 4.8% of Stockbridge Partners LLC's holdings, making the stock its 10th largest position. Stockbridge Partners LLC owned about 2.68% of New York Times worth $228,302,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in NYT. Baillie Gifford & Co. grew its holdings in 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 last quarter. Millennium Management LLC grew its holdings in New York Times by 133.6% in the 4th quarter. Millennium Management LLC now owns 1,559,837 shares of the company's stock valued at $81,190,000 after buying an additional 892,155 shares during the last quarter. Alliancebernstein L.P. grew its holdings in New York Times by 87.6% in the 4th quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company's stock valued at $99,336,000 after buying an additional 891,249 shares during the last quarter. Darsana Capital Partners LP grew its holdings in New York Times by 15.0% in the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company's stock valued at $299,288,000 after buying an additional 750,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in New York Times by 497.1% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 703,731 shares of the company's stock valued at $36,629,000 after buying an additional 585,871 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company's stock.

New York Times Price Performance

Shares of New York Times stock traded down $0.57 during midday trading on Wednesday, hitting $54.80. 1,244,625 shares of the company were exchanged, compared to its average volume of 1,343,602. The firm has a market cap of $8.94 billion, a P/E ratio of 30.79, a PEG ratio of 1.75 and a beta of 1.16. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $58.16. The firm has a 50 day simple moving average of $50.35 and a 200-day simple moving average of $51.56.

New York Times (NYSE:NYT - Get Free Report) last posted its 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 return on equity of 18.51% and a net margin of 11.36%. The business had revenue of $635.91 million during the quarter, compared to the consensus estimate of $634.99 million. During the same quarter last year, the company earned $0.31 EPS. New York Times's revenue was up 7.1% on a year-over-year basis. Equities research analysts expect that The New York Times Company will post 2.08 earnings per share for the current year.

Analysts Set New Price Targets

NYT has been the topic of several recent research reports. StockNews.com raised New York Times from a "hold" rating to a "buy" rating in a report on Friday, April 11th. Morgan Stanley decreased their price objective 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. Finally, Guggenheim lifted their price objective on New York Times from $52.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.00.

About New York Times

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.