The New York Times Company (NYSE:NYT) Shares Sold by Stockbridge Partners LLC

Stockbridge Partners LLC cut its stake in shares of The New York Times Company (NYSE:NYT) by 30.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,386,211 shares of the company’s stock after selling 1,936,050 shares during the period. New York Times makes up about 4.8% of Stockbridge Partners LLC’s investment portfolio, making the stock its 10th biggest position. Stockbridge Partners LLC’s holdings in New York Times were worth $228,302,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NYT. Brown Financial Advisors grew its holdings in shares of New York Times by 2.3% during the fourth quarter. Brown Financial Advisors now owns 8,996 shares of the company’s stock worth $468,000 after buying an additional 200 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock worth $99,000 after buying an additional 212 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of New York Times by 0.7% during the fourth quarter. IFP Advisors Inc now owns 34,368 shares of the company’s stock worth $1,789,000 after buying an additional 224 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of New York Times by 1.2% during the fourth quarter. Natixis Advisors LLC now owns 19,187 shares of the company’s stock worth $999,000 after buying an additional 228 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after buying an additional 247 shares in the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Trading Up 0.8%

Shares of NYT opened at $55.98 on Friday. 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 50-day moving average price of $50.05 and a 200 day moving average price of $51.58. The firm has a market capitalization of $9.13 billion, a P/E ratio of 31.45, a P/E/G ratio of 1.75 and a beta of 1.16.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NYT. Morgan Stanley dropped their target price on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Finally, Guggenheim upped their target price on shares of New York Times from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and three have given 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 price target of $56.00.

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.