163,122 Shares in The New York Times Company (NYSE:NYT) Purchased by Clark & Stuart Inc

Clark & Stuart Inc purchased a new stake in shares of The New York Times Company (NYSE:NYT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 163,122 shares of the company’s stock, valued at approximately $8,490,000. New York Times comprises about 6.2% of Clark & Stuart Inc’s investment portfolio, making the stock its 3rd largest holding. Clark & Stuart Inc owned 0.10% of New York Times as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Darsana Capital Partners LP raised its holdings in shares of New York Times by 25.0% in the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock valued at $320,062,000 after purchasing an additional 1,250,000 shares during the period. Wellington Management Group LLP increased its position in New York Times by 2.0% during the third quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock worth $338,168,000 after buying an additional 118,479 shares during the last quarter. State Street Corp increased its position in New York Times by 0.7% during the third quarter. State Street Corp now owns 4,785,844 shares of the company’s stock worth $266,428,000 after buying an additional 32,905 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of New York Times by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock valued at $218,978,000 after buying an additional 154,509 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after buying an additional 49,853 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.83.

New York Times Trading Down 2.0 %

NYSE:NYT opened at $50.90 on Monday. The stock has a 50 day simple moving average of $53.80 and a 200 day simple moving average of $54.02. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $58.16. The stock has a market cap of $8.35 billion, a P/E ratio of 30.12, a PEG ratio of 1.75 and a beta of 1.00.

New York Times (NYSE:NYT) last posted its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same quarter last year, the firm earned $0.37 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.02%. New York Times’s payout ratio is presently 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.