Parsifal Capital Management LP Lowers Position in The New York Times Company (NYSE:NYT)
Parsifal Capital Management LP cut its holdings in The New York Times Company (NYSE:NYT – Free Report) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,393,754 shares of the company’s stock after selling 113,603 shares during the quarter. New York Times makes up about 4.1% of Parsifal Capital Management LP’s investment portfolio, making the stock its 11th largest position. Parsifal Capital Management LP owned approximately 0.85% of New York Times worth $54,886,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its position in shares of New York Times by 9.6% during the second quarter. Louisiana State Employees Retirement System now owns 47,900 shares of the company’s stock valued at $1,886,000 after buying an additional 4,200 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of New York Times by 103.5% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 505,680 shares of the company’s stock valued at $19,914,000 after acquiring an additional 257,210 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of New York Times by 283.9% during the second quarter. Baillie Gifford & Co. now owns 841,273 shares of the company’s stock valued at $33,129,000 after acquiring an additional 622,124 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of New York Times during the first quarter valued at about $708,000. Finally, Aviva PLC increased its holdings in shares of New York Times by 30.7% during the first quarter. Aviva PLC now owns 38,555 shares of the company’s stock valued at $1,499,000 after acquiring an additional 9,066 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on NYT shares. StockNews.com downgraded shares of New York Times from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Barclays increased their price target on shares of New York Times from $36.00 to $37.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 9th. Morgan Stanley increased their price target on shares of New York Times from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, November 9th. JPMorgan Chase & Co. increased their price target on shares of New York Times from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. Finally, Guggenheim increased their price target on shares of New York Times from $37.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, August 10th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, New York Times presently has an average rating of “Hold” and a consensus target price of $42.75.
Check Out Our Latest Research Report on New York Times
New York Times Price Performance
NYSE:NYT traded up $0.38 during midday trading on Friday, hitting $47.37. The company’s stock had a trading volume of 1,181,419 shares, compared to its average volume of 1,148,705. The New York Times Company has a fifty-two week low of $31.46 and a fifty-two week high of $48.04. The firm’s 50 day moving average is $42.79 and its 200-day moving average is $41.22. The firm has a market cap of $7.79 billion, a P/E ratio of 40.84 and a beta of 1.15.
New York Times (NYSE:NYT – Get Free Report) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.29 by $0.08. New York Times had a return on equity of 16.22% and a net margin of 8.00%. The business had revenue of $598.35 million for the quarter, compared to analyst estimates of $589.49 million. During the same quarter in the prior year, the firm posted $0.21 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, analysts forecast that The New York Times Company will post 1.49 EPS for the current year.
New York Times Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $0.44 annualized dividend and a yield of 0.93%. New York Times’s dividend payout ratio is presently 37.93%.
New York Times Company Profile (Free Report)
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com website.
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