The New York Times Company (NYSE:NYT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its stake in The New York Times Company (NYSE:NYT) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 229,477 shares of the company’s stock after selling 4,081 shares during the period. Ameriprise Financial Inc.’s holdings in New York Times were worth $11,944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NYT. Baillie Gifford & Co. boosted its position in shares of New York Times by 228.3% during the fourth quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock worth $132,040,000 after buying an additional 1,764,078 shares during the period. Alliancebernstein L.P. lifted its stake in New York Times by 87.6% during the 4th quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company’s stock worth $99,336,000 after acquiring an additional 891,249 shares in the last quarter. Darsana Capital Partners LP boosted its holdings in New York Times by 15.0% during the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock valued at $299,288,000 after acquiring an additional 750,000 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in New York Times by 497.1% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 703,731 shares of the company’s stock valued at $36,629,000 after acquiring an additional 585,871 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its position in New York Times by 11,158.7% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 467,236 shares of the company’s stock valued at $24,320,000 after acquiring an additional 463,086 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analyst Upgrades and Downgrades

NYT has been the topic of several research reports. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Friday, April 11th. Morgan Stanley cut their target price on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Finally, Guggenheim raised 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 report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, New York Times has an average rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Price Performance

NYT stock opened at $55.98 on Monday. The business’s 50-day moving average is $50.05 and its two-hundred day moving average is $51.55. The firm has a market capitalization 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. The New York Times Company has a 1 year low of $44.83 and a 1 year high of $58.16.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $634.99 million. During the same quarter last year, the company earned $0.31 earnings per share. The firm’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 EPS for the current year.

New York Times 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.