The New York Times Company (NYSE:NYT) Position Boosted by Cadian Capital Management LP
Cadian Capital Management LP lifted its stake in The New York Times Company (NYSE:NYT – Free Report) by 8.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,746,974 shares of the company’s stock after buying an additional 225,000 shares during the quarter. New York Times makes up about 5.1% of Cadian Capital Management LP’s investment portfolio, making the stock its 9th largest position. Cadian Capital Management LP owned about 1.67% of New York Times worth $108,176,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. raised its stake in New York Times by 0.5% during the first quarter. BlackRock Inc. now owns 14,273,319 shares of the company’s stock valued at $554,947,000 after purchasing an additional 64,885 shares in the last quarter. Stockbridge Partners LLC raised its stake in New York Times by 5.2% during the fourth quarter. Stockbridge Partners LLC now owns 8,558,222 shares of the company’s stock valued at $277,800,000 after purchasing an additional 419,442 shares in the last quarter. Farallon Capital Management LLC raised its stake in New York Times by 4.7% during the first quarter. Farallon Capital Management LLC now owns 6,354,791 shares of the company’s stock valued at $247,074,000 after purchasing an additional 286,000 shares in the last quarter. Wellington Management Group LLP raised its stake in New York Times by 0.5% during the first quarter. Wellington Management Group LLP now owns 6,277,801 shares of the company’s stock valued at $244,081,000 after purchasing an additional 28,829 shares in the last quarter. Finally, State Street Corp raised its stake in New York Times by 3.3% during the third quarter. State Street Corp now owns 4,506,167 shares of the company’s stock valued at $129,552,000 after purchasing an additional 143,001 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.
Analyst Ratings Changes
NYT has been the topic of a number of analyst reports. StockNews.com cut shares of New York Times from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Morgan Stanley boosted their price objective on shares of New York Times from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, November 9th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, New York Times has a consensus rating of “Hold” and a consensus target price of $42.75.
Get Our Latest Stock Analysis on NYT
New York Times Trading Down 1.4 %
Shares of NYSE NYT traded down $0.64 during mid-day trading on Friday, reaching $46.68. The company had a trading volume of 1,225,133 shares, compared to its average volume of 932,519. The business’s 50-day moving average is $43.43 and its 200-day moving average is $41.59. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 40.24 and a beta of 1.15. The New York Times Company has a 52 week low of $31.46 and a 52 week high of $48.88.
New York Times (NYSE:NYT – Get Free Report) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $598.35 million for the quarter, compared to analysts’ expectations of $589.49 million. New York Times had a net margin of 8.00% and a return on equity of 16.22%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. As a group, equities research analysts forecast that The New York Times Company will post 1.49 earnings per share for the current year.
New York Times Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Investors of record on Tuesday, October 10th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Friday, October 6th. New York Times’s dividend payout ratio (DPR) is presently 37.93%.
About New York Times (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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