Jacobs Levy Equity Management Inc. Raises Holdings in The New York Times Company (NYSE:NYT)

Jacobs Levy Equity Management Inc. grew its position in shares of The New York Times Company (NYSE:NYT - Free Report) by 234.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,343 shares of the company's stock after buying an additional 156,651 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.14% of New York Times worth $11,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Clark & Stuart Inc bought a new position in New York Times in the fourth quarter valued at about $8,490,000. Park Avenue Securities LLC lifted its stake 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 worth $728,000 after purchasing an additional 9,823 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of New York Times in the fourth quarter worth approximately $1,200,000. Figure 8 Investment Strategies LLC bought a new stake in New York Times during the fourth quarter valued at approximately $492,000. Finally, Baillie Gifford & Co. grew its position in New York Times by 228.3% during the fourth 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. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Stock Up 0.8%

NYT stock traded up $0.43 during trading on Friday, reaching $55.98. The company's stock had a trading volume of 1,108,800 shares, compared to its average volume of 1,336,305. The company's fifty day moving average is $49.90 and its 200-day moving average is $51.61. The company has a market capitalization of $9.14 billion, a P/E ratio of 31.45, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley dropped their price target on shares of New York Times from $56.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 6th. Guggenheim boosted 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, May 8th. Finally, StockNews.com raised New York Times from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average 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.