American Century Companies Inc. Lowers Stock Position in The New York Times Company (NYSE:NYT)

American Century Companies Inc. decreased its position in The New York Times Company (NYSE:NYT) by 7.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 113,268 shares of the company’s stock after selling 9,161 shares during the period. American Century Companies Inc.’s holdings in New York Times were worth $5,896,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of NYT. Wellington Management Group LLP increased its stake in shares of New York Times by 2.0% in the 3rd quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock valued at $338,168,000 after purchasing an additional 118,479 shares in the last quarter. State Street Corp grew its holdings in New York Times by 0.7% in the third quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after purchasing an additional 32,905 shares during the period. Geode Capital Management LLC increased its position in shares of New York Times by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock valued at $218,978,000 after buying an additional 154,509 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of New York Times by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after buying an additional 49,853 shares during the period. Finally, Baillie Gifford & Co. lifted its position in shares of New York Times by 228.3% during the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock valued at $132,040,000 after buying an additional 1,764,078 shares in the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of NYT stock opened at $47.54 on Friday. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The firm has a market capitalization of $7.76 billion, a P/E ratio of 26.71, a PEG ratio of 1.75 and a beta of 1.18. The stock’s fifty day moving average is $49.56 and its two-hundred day moving average is $52.57.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. On average, equities analysts forecast that The New York Times Company will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be given a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.13. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. New York Times’s dividend payout ratio is 40.45%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NYT. Morgan Stanley cut their price target on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. StockNews.com cut shares of New York Times from a “buy” rating to a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to 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.