The New York Times Company (NYSE:NYT) Shares Sold by Darsana Capital Partners LP

Darsana Capital Partners LP trimmed its position in The New York Times Company (NYSE:NYT) by 20.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,000,000 shares of the company’s stock after selling 1,250,000 shares during the period. New York Times makes up approximately 6.9% of Darsana Capital Partners LP’s holdings, making the stock its 9th biggest holding. Darsana Capital Partners LP owned 3.04% of New York Times worth $278,350,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of NYT. Renaissance Technologies LLC raised its holdings in New York Times by 19.8% in the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after purchasing an additional 482,200 shares during the period. Dimensional Fund Advisors LP raised its stake in New York Times by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after buying an additional 438,680 shares during the period. Assenagon Asset Management S.A. lifted its holdings in New York Times by 582.1% during the third quarter. Assenagon Asset Management S.A. now owns 361,235 shares of the company’s stock worth $20,110,000 after acquiring an additional 308,277 shares in the last quarter. Bank of Montreal Can lifted its holdings in New York Times by 964.9% during the second quarter. Bank of Montreal Can now owns 266,079 shares of the company’s stock worth $13,637,000 after acquiring an additional 241,093 shares in the last quarter. Finally, Burgundy Asset Management Ltd. grew its stake in New York Times by 17.2% in the second quarter. Burgundy Asset Management Ltd. now owns 1,184,357 shares of the company’s stock valued at $60,651,000 after acquiring an additional 174,228 shares during the period. Institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

NYT has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays raised their price objective on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.83.

New York Times Stock Performance

Shares of NYT stock opened at $54.26 on Friday. The New York Times Company has a 52 week low of $41.55 and a 52 week high of $57.08. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 1.73 and a beta of 1.02. The company has a 50-day simple moving average of $54.82 and a 200 day simple moving average of $53.20.

New York Times (NYSE:NYT) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same period in the previous year, the company posted $0.37 EPS. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Sell-side analysts forecast that The New York Times Company will post 1.84 EPS for the current year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio is currently 30.77%.

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.