The New York Times Company (NYSE:NYT) Stock Position Trimmed by Jackson Square Partners LLC

Jackson Square Partners LLC reduced its stake in The New York Times Company (NYSE:NYT) by 57.9% in the fourth quarter, HoldingsChannel reports. The fund owned 459,552 shares of the company’s stock after selling 631,040 shares during the quarter. New York Times makes up 2.6% of Jackson Square Partners LLC’s holdings, making the stock its 14th largest holding. Jackson Square Partners LLC’s holdings in New York Times were worth $23,920,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NYT. Mountain Hill Investment Partners Corp. acquired a new position in New York Times in the 4th quarter worth approximately $36,000. UMB Bank n.a. boosted its stake in shares of New York Times by 61.4% during the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after acquiring an additional 283 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in New York Times by 27.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after purchasing an additional 247 shares during the last quarter. GAMMA Investing LLC boosted its holdings in New York Times by 20.2% during the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock valued at $131,000 after acquiring an additional 424 shares during the period. Finally, Portfolio Design Labs LLC acquired a new position in New York Times during the 4th quarter valued at $202,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Price Performance

NYT opened at $48.62 on Tuesday. The New York Times Company has a fifty-two week low of $41.55 and a fifty-two week high of $58.16. The company has a market cap of $7.94 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18. The firm has a 50 day simple moving average of $50.16 and a 200 day simple moving average of $52.81.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. As a group, analysts expect that The New York Times Company will post 2.08 EPS for the current year.

New York Times Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.48%. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio (DPR) is presently 40.45%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley decreased their price target on 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $56.00.

About New York Times

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.