Franklin Resources Inc. Purchases 406,958 Shares of The New York Times Company (NYSE:NYT)

Franklin Resources Inc. increased its position in The New York Times Company (NYSE:NYT - Free Report) by 15.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,997,420 shares of the company's stock after purchasing an additional 406,958 shares during the quarter. Franklin Resources Inc. owned approximately 1.82% of New York Times worth $146,844,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NYT. Contravisory Investment Management Inc. bought a new position in New York Times in the 4th quarter valued at about $27,000. GAMMA Investing LLC bought a new position in New York Times in the 4th quarter valued at about $31,000. DekaBank Deutsche Girozentrale bought a new position in shares of New York Times during the third quarter worth approximately $37,000. Covestor Ltd increased its holdings in shares of New York Times by 9.6% during the third quarter. Covestor Ltd now owns 2,659 shares of the company's stock worth $110,000 after purchasing an additional 232 shares during the period. Finally, NBC Securities Inc. bought a new position in shares of New York Times during the third quarter worth approximately $120,000. 95.37% of the stock is owned by institutional investors.

Insider Transactions at New York Times

In other news, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.72, for a total transaction of $598,790.56. Following the transaction, the chief executive officer now owns 120,072 shares in the company, valued at $5,729,835.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times stock in a transaction on Friday, May 10th. The shares were sold at an average price of $47.72, for a total transaction of $598,790.56. Following the completion of the transaction, the chief executive officer now owns 120,072 shares of the company's stock, valued at $5,729,835.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO R Anthony Benten sold 5,171 shares of New York Times stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total transaction of $253,275.58. Following the transaction, the chief accounting officer now directly owns 38,576 shares of the company's stock, valued at approximately $1,889,452.48. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NYT. Argus raised shares of New York Times from a "hold" rating to a "buy" rating and set a $51.00 target price on the stock in a report on Monday, March 4th. StockNews.com upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research report on Wednesday, March 20th. Evercore ISI increased their price target on shares of New York Times from $50.00 to $53.00 and gave the stock an "outperform" rating in a research report on Thursday, May 9th. Finally, Citigroup began coverage on shares of New York Times in a research report on Tuesday, March 12th. They set a "buy" rating and a $52.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, New York Times presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.71.

New York Times Trading Down 0.5 %

New York Times stock traded down $0.24 during mid-day trading on Thursday, reaching $49.26. The company had a trading volume of 829,772 shares, compared to its average volume of 1,268,559. The New York Times Company has a fifty-two week low of $35.06 and a fifty-two week high of $50.26. The company has a market cap of $8.09 billion, a P/E ratio of 32.87 and a beta of 1.00. The business has a fifty day simple moving average of $44.52 and a 200 day simple moving average of $45.42.

New York Times (NYSE:NYT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.11. The company had revenue of $594.00 million for the quarter, compared to analyst estimates of $591.97 million. New York Times had a net margin of 10.19% and a return on equity of 17.33%. New York Times's revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.19 earnings per share. Research analysts forecast that The New York Times Company will post 1.77 EPS for the current year.

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.