The New York Times Company (NYSE:NYT) Position Trimmed by Stockbridge Partners LLC

Stockbridge Partners LLC lessened its stake in shares of The New York Times Company (NYSE:NYT) by 30.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 portfolio, making the stock its 10th biggest position. Stockbridge Partners LLC owned approximately 2.68% of New York Times worth $228,302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Brown Financial Advisors boosted its holdings in shares of New York Times by 2.3% in the 4th quarter. Brown Financial Advisors now owns 8,996 shares of the company’s stock valued at $468,000 after acquiring an additional 200 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of New York Times by 12.6% in the 4th quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock valued at $99,000 after acquiring an additional 212 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of New York Times by 0.7% in the 4th quarter. IFP Advisors Inc now owns 34,368 shares of the company’s stock valued at $1,789,000 after acquiring an additional 224 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of New York Times by 1.2% in the 4th quarter. Natixis Advisors LLC now owns 19,187 shares of the company’s stock valued at $999,000 after acquiring an additional 228 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after acquiring an additional 247 shares during the last quarter. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Price Performance

NYT opened at $55.98 on Friday. The firm has a fifty day moving average price of $50.05 and a 200 day moving average price of $51.58. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16. The stock has a market cap 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 posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $635.91 million during the quarter, compared to analysts’ expectations of $634.99 million. New York Times had a net margin of 11.36% and a return on equity of 18.51%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. Equities analysts expect that The New York Times Company will post 2.08 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on NYT shares. Morgan Stanley dropped their price objective on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Guggenheim boosted their target price 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. Finally, StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently 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.