BNP Paribas Financial Markets Increases Holdings in The New York Times Company (NYSE:NYT)

BNP Paribas Financial Markets increased its stake in The New York Times Company (NYSE:NYT) by 89.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 155,909 shares of the company’s stock after purchasing an additional 73,805 shares during the quarter. BNP Paribas Financial Markets owned about 0.10% of New York Times worth $8,115,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NYT. Baillie Gifford & Co. grew its position in shares of New York Times by 228.3% in the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock valued at $132,040,000 after purchasing an additional 1,764,078 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of New York Times by 87.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company’s stock valued at $99,336,000 after purchasing an additional 891,249 shares in the last quarter. Darsana Capital Partners LP grew its position in shares of New York Times by 15.0% in the fourth quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock valued at $299,288,000 after purchasing an additional 750,000 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of New York Times by 497.1% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 703,731 shares of the company’s stock valued at $36,629,000 after purchasing an additional 585,871 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its position in shares of New York Times by 11,158.7% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 467,236 shares of the company’s stock valued at $24,320,000 after purchasing an additional 463,086 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Stock Up 1.9%

New York Times stock opened at $53.61 on Monday. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $58.16. The business has a 50-day simple moving average of $49.38 and a 200 day simple moving average of $51.57. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 1.75 and a beta of 1.16.

New York Times (NYSE:NYT) last issued its quarterly earnings results 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 return on equity of 18.51% and a net margin of 11.36%. 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 previous year, the company posted $0.31 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NYT. Guggenheim lifted their price target on New York Times from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley reduced their target price 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. Finally, StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.