Franklin Resources Inc. Has $150.39 Million Stake in The New York Times Company $NYT

Franklin Resources Inc. reduced its holdings in The New York Times Company (NYSE:NYTFree Report) by 4.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,166,364 shares of the company’s stock after selling 89,967 shares during the quarter. Franklin Resources Inc.’s holdings in New York Times were worth $150,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jackson Thornton Wealth Management LLC grew its position in shares of New York Times by 3.5% in the 4th quarter. Jackson Thornton Wealth Management LLC now owns 4,355 shares of the company’s stock valued at $302,000 after acquiring an additional 148 shares during the period. Cornerstone Planning Group LLC grew its position in shares of New York Times by 74.2% in the 4th quarter. Cornerstone Planning Group LLC now owns 446 shares of the company’s stock valued at $32,000 after acquiring an additional 190 shares during the period. WPG Advisers LLC grew its position in shares of New York Times by 15.1% in the 4th quarter. WPG Advisers LLC now owns 1,531 shares of the company’s stock valued at $106,000 after acquiring an additional 201 shares during the period. Evergreen Capital Management LLC grew its position in shares of New York Times by 1.4% in the 4th quarter. Evergreen Capital Management LLC now owns 14,897 shares of the company’s stock valued at $1,034,000 after acquiring an additional 201 shares during the period. Finally, Quadrant Capital Group LLC grew its position in shares of New York Times by 2.0% in the 3rd quarter. Quadrant Capital Group LLC now owns 10,809 shares of the company’s stock valued at $620,000 after acquiring an additional 207 shares during the period. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Stock Performance

Shares of NYT stock opened at $73.03 on Thursday. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 1.52 and a beta of 0.95. The company has a 50-day simple moving average of $78.57 and a 200 day simple moving average of $74.81. The New York Times Company has a 52 week low of $51.03 and a 52 week high of $87.10.

New York Times (NYSE:NYTGet Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.49 by $0.12. The business had revenue of $712.24 million during the quarter, compared to the consensus estimate of $699.93 million. New York Times had a net margin of 13.18% and a return on equity of 22.02%. New York Times’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. Sell-side analysts forecast that The New York Times Company will post 2.93 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on NYT shares. Barclays lifted their price objective on shares of New York Times from $60.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $95.00 target price on shares of New York Times in a report on Thursday, May 7th. Wall Street Zen raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Guggenheim lifted their target price on shares of New York Times from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Morgan Stanley set a $90.00 target price on shares of New York Times in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, New York Times currently has an average rating of “Moderate Buy” and a consensus target price of $81.67.

Read Our Latest Research Report on NYT

Insider Buying and Selling at New York Times

In other New York Times news, EVP Jacqueline M. Welch sold 4,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $74.14, for a total value of $296,560.00. Following the completion of the sale, the executive vice president owned 23,873 shares of the company’s stock, valued at $1,769,944.22. The trade was a 14.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William Bardeen sold 4,121 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $77.85, for a total transaction of $320,819.85. Following the completion of the sale, the executive vice president directly owned 14,560 shares of the company’s stock, valued at $1,133,496. This represents a 22.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,121 shares of company stock valued at $1,310,920 in the last quarter. Company insiders own 1.90% of the company’s stock.

New York Times News Roundup

Here are the key news stories impacting New York Times this week:

New York Times Company Profile

(Free Report)

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.

See Also

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Institutional Ownership by Quarter for New York Times (NYSE:NYT)

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