Comerica Bank Has $2.66 Million Stock Holdings in The New York Times Company (NYSE:NYT)

Comerica Bank reduced its stake in The New York Times Company (NYSE:NYT) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,154 shares of the company’s stock after selling 2,041 shares during the quarter. Comerica Bank’s holdings in New York Times were worth $2,663,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NYT. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of New York Times by 511.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock worth $25,000 after purchasing an additional 394 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in New York Times in the fourth quarter valued at $36,000. UMB Bank n.a. boosted its position in New York Times by 61.4% during the fourth quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after acquiring an additional 283 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in New York Times by 27.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after acquiring an additional 247 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of New York Times by 12.6% in the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after acquiring an additional 212 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on NYT shares. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Morgan Stanley lowered their price objective on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Guggenheim increased their target price on shares of New York Times from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.50.

New York Times Trading Up 0.0 %

Shares of NYT stock opened at $52.67 on Friday. The firm has a fifty day simple moving average of $49.25 and a two-hundred day simple moving average of $51.62. The New York Times Company has a 12 month low of $44.83 and a 12 month high of $58.16. The firm has a market capitalization of $8.60 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. The company had revenue of $635.91 million during the quarter, compared to the consensus estimate of $634.99 million. New York Times had a net margin of 11.36% and a return on equity of 18.51%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, equities analysts predict that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

New York Times Company 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.