Burgundy Asset Management Ltd. Purchases 43,595 Shares of The New York Times Company $NYT

Burgundy Asset Management Ltd. lifted its position in The New York Times Company (NYSE:NYT) by 1.9% in the 2nd quarter, Holdings Channel reports. The fund owned 2,368,819 shares of the company’s stock after acquiring an additional 43,595 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in New York Times were worth $132,606,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NYT. Vanguard Group Inc. grew its stake in New York Times by 1.2% in the first quarter. Vanguard Group Inc. now owns 15,987,404 shares of the company’s stock worth $792,975,000 after purchasing an additional 187,056 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of New York Times by 7.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 10,392,977 shares of the company’s stock worth $515,492,000 after buying an additional 698,433 shares during the period. Geode Capital Management LLC increased its stake in shares of New York Times by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 3,826,905 shares of the company’s stock worth $214,257,000 after acquiring an additional 46,249 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in New York Times by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,707,676 shares of the company’s stock valued at $134,292,000 after acquiring an additional 211,062 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in New York Times by 37.4% during the first quarter. Alliancebernstein L.P. now owns 2,622,794 shares of the company’s stock worth $130,091,000 after acquiring an additional 714,317 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NYT shares. JPMorgan Chase & Co. raised their target price on shares of New York Times from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Morgan Stanley raised their price objective on New York Times from $59.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of New York Times in a research note on Wednesday, October 8th. UBS Group set a $62.00 target price on New York Times in a research note on Thursday, November 6th. Finally, Zacks Research lowered New York Times from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, New York Times currently has an average rating of “Moderate Buy” and an average price target of $63.57.

New York Times Trading Up 1.2%

Shares of NYT opened at $64.80 on Friday. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 1.61 and a beta of 1.16. The business’s fifty day simple moving average is $59.55 and its two-hundred day simple moving average is $57.62. The New York Times Company has a 12 month low of $44.83 and a 12 month high of $65.36.

New York Times (NYSE:NYT) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. New York Times had a return on equity of 20.30% and a net margin of 12.29%.The firm had revenue of $700.82 million for the quarter, compared to the consensus estimate of $692.01 million. During the same period in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, research analysts forecast that The New York Times Company will post 2.08 EPS for the current year.

New York Times Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, October 8th. New York Times’s payout ratio is 35.12%.

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.