The New York Times Company (NYSE:NYT) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in shares of The New York Times Company (NYSE:NYT) by 76.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 85,973 shares of the company’s stock after selling 275,262 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of New York Times worth $4,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NYT. Darsana Capital Partners LP grew its position in shares of New York Times by 25.0% in the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock valued at $320,062,000 after purchasing an additional 1,250,000 shares during the last quarter. Wellington Management Group LLP grew its position in shares of New York Times by 2.0% in the third quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock valued at $338,168,000 after purchasing an additional 118,479 shares during the last quarter. State Street Corp grew its position in shares of New York Times by 0.7% in the third quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after purchasing an additional 32,905 shares during the last quarter. Geode Capital Management LLC grew its position in shares of New York Times by 4.1% in the third quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock valued at $218,978,000 after purchasing an additional 154,509 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of New York Times by 1.5% in the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after purchasing an additional 49,853 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

New York Times Stock Performance

Shares of NYT opened at $51.87 on Tuesday. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.45 and a beta of 1.00. The company’s 50 day simple moving average is $53.44 and its 200 day simple moving average is $54.02. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.04. The business had revenue of $640.20 million for the quarter, compared to the consensus estimate of $641.00 million. New York Times had a net margin of 11.04% and a return on equity of 17.75%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Equities analysts expect that The New York Times Company will post 1.84 EPS for the current fiscal year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 9th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, January 10th. New York Times’s dividend payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

Several analysts have recently commented on NYT shares. JPMorgan Chase & Co. increased their price target on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.83.

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.