Wellington Management Group LLP Reduces Holdings in The New York Times Company (NYSE:NYT)

Wellington Management Group LLP cut its stake in The New York Times Company (NYSE:NYT) by 9.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,523,326 shares of the company’s stock after selling 551,188 shares during the quarter. Wellington Management Group LLP’s holdings in New York Times were worth $287,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Citigroup Inc. lifted its holdings in shares of New York Times by 13.5% in the 3rd quarter. Citigroup Inc. now owns 82,481 shares of the company’s stock valued at $4,592,000 after purchasing an additional 9,820 shares during the last quarter. Cerity Partners LLC lifted its stake in New York Times by 10.8% in the third quarter. Cerity Partners LLC now owns 15,999 shares of the company’s stock valued at $891,000 after buying an additional 1,556 shares during the last quarter. FMR LLC lifted its stake in New York Times by 41.9% in the third quarter. FMR LLC now owns 524,032 shares of the company’s stock valued at $29,173,000 after buying an additional 154,822 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of New York Times by 95.3% in the third quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock valued at $4,571,000 after acquiring an additional 40,058 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of New York Times by 18.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,635 shares of the company’s stock worth $2,151,000 after acquiring an additional 6,068 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NYT. Morgan Stanley decreased their price target on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

New York Times Stock Performance

Shares of New York Times stock opened at $50.21 on Wednesday. The New York Times Company has a one year low of $41.55 and a one year high of $58.16. The company has a market cap of $8.20 billion, a P/E ratio of 28.21, a PEG ratio of 1.75 and a beta of 1.18. The firm has a fifty day moving average of $49.84 and a two-hundred day moving average of $52.66.

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

New York Times Increases Dividend

The firm also recently disclosed 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. This represents a $0.72 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio is currently 40.45%.

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.