The New York Times Company (NYSE:NYT) Shares Bought by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. lifted its stake in shares of The New York Times Company (NYSE:NYT) by 17.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,184,357 shares of the company’s stock after buying an additional 174,228 shares during the quarter. Burgundy Asset Management Ltd. owned about 0.72% of New York Times worth $60,651,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in New York Times by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 15,809,453 shares of the company’s stock valued at $774,505,000 after acquiring an additional 80,075 shares during the last quarter. Farallon Capital Management LLC lifted its holdings in shares of New York Times by 18.1% in the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after purchasing an additional 1,711,268 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of New York Times by 15.7% in the 4th quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company’s stock valued at $146,844,000 after purchasing an additional 406,958 shares during the period. Renaissance Technologies LLC boosted its position in shares of New York Times by 19.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock valued at $149,131,000 after purchasing an additional 482,200 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in New York Times by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after buying an additional 438,680 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Insider Transactions at New York Times

In other New York Times news, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the sale, the chief financial officer now owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other New York Times news, CFO William Bardeen sold 2,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the sale, the chief financial officer now owns 10,315 shares of the company’s stock, valued at $562,786.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now owns 101,772 shares in the company, valued at $5,487,546.24. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

New York Times Trading Down 0.7 %

Shares of NYT stock opened at $55.06 on Thursday. The company has a market capitalization of $9.05 billion, a P/E ratio of 36.71 and a beta of 1.03. The business’s 50 day moving average is $53.88 and its two-hundred day moving average is $49.24. The New York Times Company has a twelve month low of $39.73 and a twelve month high of $56.49.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $624.82 million. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. As a group, equities analysts predict that The New York Times Company will post 1.9 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Tuesday, July 9th. New York Times’s payout ratio is 34.67%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NYT shares. Barclays boosted their price objective on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their price target on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

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.