Fiduciary Trust Co Acquires 2,425 Shares of The New York Times Company (NYSE:NYT)

Fiduciary Trust Co lifted its holdings in shares of The New York Times Company (NYSE:NYT) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,067 shares of the company’s stock after acquiring an additional 2,425 shares during the quarter. Fiduciary Trust Co’s holdings in New York Times were worth $784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NYT. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of New York Times by 511.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471 shares of the company’s stock valued at $25,000 after acquiring an additional 394 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of New York Times during the fourth quarter valued at approximately $36,000. UMB Bank n.a. raised its holdings in shares of New York Times by 61.4% during the fourth quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after acquiring an additional 283 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock valued at $60,000 after acquiring an additional 247 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company’s stock valued at $99,000 after acquiring an additional 212 shares in the last quarter. Institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

Shares of NYSE:NYT opened at $53.61 on Monday. The New York Times Company has a 1-year low of $44.83 and a 1-year high of $58.16. The business has a fifty day moving average price of $49.38 and a 200-day moving average price of $51.57. The company has a market capitalization of $8.75 billion, a PE ratio of 30.12, a PEG ratio of 1.75 and a beta of 1.16.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. The firm had revenue of $635.91 million during the quarter, compared to the consensus estimate of $634.99 million. During the same period last year, the company earned $0.31 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts anticipate that The New York Times Company will post 2.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NYT. Morgan Stanley decreased their price objective on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, February 6th. Guggenheim increased their price objective on New York Times from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

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.