Douglas Lane & Associates LLC Sells 5,323 Shares of The New York Times Company (NYSE:NYT)

Douglas Lane & Associates LLC trimmed its position in shares of The New York Times Company (NYSE:NYT) by 5.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,405 shares of the company’s stock after selling 5,323 shares during the period. Douglas Lane & Associates LLC’s holdings in New York Times were worth $4,980,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NYT. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in 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 valued at $25,000 after buying an additional 394 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in shares of New York Times during the fourth quarter worth $36,000. American National Bank & Trust acquired a new position in shares of New York Times during the first quarter worth $45,000. Smartleaf Asset Management LLC increased its stake 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 valued at $60,000 after purchasing an additional 247 shares in the last quarter. Finally, Bessemer Group Inc. increased its stake in New York Times by 12.6% during the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock valued at $99,000 after purchasing an additional 212 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

New York Times Trading Up 1.1%

NYSE:NYT opened at $57.14 on Monday. The New York Times Company has a twelve month low of $44.83 and a twelve month high of $58.16. The company has a market cap of $9.32 billion, a P/E ratio of 32.10, a P/E/G ratio of 1.75 and a beta of 1.16. The company’s 50-day moving average price is $51.44 and its 200-day moving average price is $51.59.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $634.99 million. During the same period last year, the business earned $0.31 earnings per share. New York Times’s revenue was up 7.1% compared to the same quarter last year. On average, 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.