Raymond James Financial Inc. Invests $1.54 Million in The New York Times Company (NYSE:NYT)

Raymond James Financial Inc. bought a new position in The New York Times Company (NYSE:NYT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 29,673 shares of the company's stock, valued at approximately $1,544,000.

Several other institutional investors and hedge funds have also bought and sold shares of NYT. Baillie Gifford & Co. raised its stake in New York Times by 228.3% during the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company's stock worth $132,040,000 after acquiring an additional 1,764,078 shares during the period. Alliancebernstein L.P. increased its stake in shares of New York Times by 87.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company's stock worth $99,336,000 after purchasing an additional 891,249 shares in the last quarter. Renaissance Technologies LLC raised its holdings in New York Times by 13.3% during the fourth quarter. Renaissance Technologies LLC now owns 3,570,380 shares of the company's stock valued at $185,838,000 after acquiring an additional 418,155 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of New York Times by 70.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 982,659 shares of the company's stock valued at $51,147,000 after buying an additional 404,558 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in New York Times by 17.7% in the 4th quarter. Invesco Ltd. now owns 2,145,748 shares of the company's stock worth $111,686,000 after purchasing an additional 322,141 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Trading Up 0.8 %

Shares of NYSE NYT traded up $0.42 during trading hours on Tuesday, reaching $52.69. The stock had a trading volume of 3,124,445 shares, compared to its average volume of 1,334,210. The New York Times Company has a 52-week low of $44.70 and a 52-week high of $58.16. The firm has a market cap of $8.60 billion, a price-to-earnings ratio of 29.60, a P/E/G ratio of 1.75 and a beta of 1.16. The business's fifty day moving average price is $48.95 and its two-hundred day moving average price is $51.62.

New York Times (NYSE:NYT - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. Equities research analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com raised shares of New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Morgan Stanley cut their price objective on 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. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $56.00.

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.