Burgundy Asset Management Ltd. Purchases 197,859 Shares of The New York Times Company (NYSE:NYT)

Burgundy Asset Management Ltd. raised its position in The New York Times Company (NYSE:NYT) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,407,458 shares of the company’s stock after purchasing an additional 197,859 shares during the quarter. Burgundy Asset Management Ltd. owned 0.86% of New York Times worth $73,258,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in New York Times in the fourth quarter valued at about $1,200,000. Figure 8 Investment Strategies LLC bought a new position in shares of New York Times during the fourth quarter worth about $492,000. Baillie Gifford & Co. raised its position in shares of New York Times by 228.3% during the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock worth $132,040,000 after acquiring an additional 1,764,078 shares during the last quarter. Centiva Capital LP raised its position in shares of New York Times by 58.6% during the fourth quarter. Centiva Capital LP now owns 36,031 shares of the company’s stock worth $1,875,000 after acquiring an additional 13,311 shares during the last quarter. Finally, Lecap Asset Management Ltd. raised its position in shares of New York Times by 27.6% during the fourth quarter. Lecap Asset Management Ltd. now owns 29,473 shares of the company’s stock worth $1,534,000 after acquiring an additional 6,376 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NYT shares. Morgan Stanley lowered their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, February 6th. Wall Street Zen upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Finally, Guggenheim raised their price objective on New York Times from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.00.

New York Times Price Performance

NYSE NYT opened at $54.85 on Friday. The business has a 50 day simple moving average of $50.59 and a 200 day simple moving average of $51.60. The New York Times Company has a one year low of $44.83 and a one year high of $58.16. The stock has a market capitalization of $8.94 billion, a P/E ratio of 30.81, a P/E/G ratio of 1.75 and a beta of 1.16.

New York Times (NYSE:NYT) last released 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. New York Times had a return on equity of 18.51% and a net margin of 11.36%. The business had revenue of $635.91 million during the quarter, compared to analysts’ expectations of $634.99 million. During the same quarter last year, the firm posted $0.31 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. Equities analysts expect that The New York Times Company will post 2.08 earnings per share for the current 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.