Jackson Square Partners LLC Has $3.23 Million Holdings in The New York Times Company $NYT

Jackson Square Partners LLC decreased its stake in shares of The New York Times Company (NYSE:NYT) by 83.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,706 shares of the company’s stock after selling 288,589 shares during the period. Jackson Square Partners LLC’s holdings in New York Times were worth $3,230,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. increased its holdings in New York Times by 49.9% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 195,724 shares of the company’s stock worth $10,957,000 after purchasing an additional 65,175 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of New York Times by 264.0% in the second quarter. First Citizens Bank & Trust Co. now owns 16,951 shares of the company’s stock valued at $949,000 after purchasing an additional 12,294 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of New York Times by 154.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 64,522 shares of the company’s stock worth $3,685,000 after buying an additional 39,149 shares during the period. Element Capital Management LLC bought a new position in shares of New York Times during the first quarter worth about $2,742,000. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of New York Times by 29.2% during the second quarter. Harbor Capital Advisors Inc. now owns 30,808 shares of the company’s stock worth $1,725,000 after buying an additional 6,957 shares in the last quarter. 95.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays raised their price target on shares of New York Times from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday. Guggenheim raised their target price on shares of New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. UBS Group set a $62.00 price target on shares of New York Times in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on shares of New York Times from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Zacks Research downgraded New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.17.

New York Times Stock Performance

Shares of NYT stock opened at $61.29 on Friday. The New York Times Company has a 52-week low of $44.83 and a 52-week high of $62.24. The stock has a market cap of $9.98 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 1.41 and a beta of 1.14. The firm’s 50-day moving average is $57.34 and its 200-day moving average is $56.04.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. New York Times had a return on equity of 19.55% and a net margin of 11.92%.The firm had revenue of $700.82 million for the quarter, compared to the consensus estimate of $692.01 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. Sell-side analysts predict that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th were given a dividend of $0.18 per share. The ex-dividend date was Wednesday, October 8th. This represents a $0.72 annualized dividend and a yield of 1.2%. New York Times’s dividend payout ratio (DPR) is 37.11%.

Insider Activity at New York Times

In other New York Times news, EVP Jacqueline M. Welch sold 5,500 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $60.04, for a total transaction of $330,220.00. Following the transaction, the executive vice president owned 14,470 shares in the company, valued at $868,778.80. This represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William Bardeen sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $58.04, for a total value of $290,200.00. Following the sale, the executive vice president directly owned 11,243 shares in the company, valued at $652,543.72. This represents a 30.78% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.90% of the company’s stock.

About New York Times

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.