Edgestream Partners L.P. Boosts Stake in The New York Times Company (NYSE:NYT)

Edgestream Partners L.P. increased its stake in shares of The New York Times Company (NYSE:NYT) by 247.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 37,742 shares of the company’s stock after purchasing an additional 26,866 shares during the period. Edgestream Partners L.P.’s holdings in New York Times were worth $1,486,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position in New York Times by 9.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 47,900 shares of the company’s stock valued at $1,886,000 after buying an additional 4,200 shares during the period. Achmea Investment Management B.V. purchased a new position in New York Times in the 1st quarter valued at approximately $1,255,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of New York Times by 103.5% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 505,680 shares of the company’s stock valued at $19,914,000 after purchasing an additional 257,210 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of New York Times by 283.9% in the 2nd quarter. Baillie Gifford & Co. now owns 841,273 shares of the company’s stock valued at $33,129,000 after purchasing an additional 622,124 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in shares of New York Times in the 1st quarter valued at $708,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Price Performance

Shares of NYSE:NYT opened at $45.43 on Tuesday. The company’s fifty day moving average price is $42.16 and its 200 day moving average price is $40.71. The New York Times Company has a 12 month low of $31.46 and a 12 month high of $45.53. The firm has a market capitalization of $7.47 billion, a P/E ratio of 39.16 and a beta of 1.12.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Wednesday, November 8th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.08. New York Times had a net margin of 8.00% and a return on equity of 16.22%. The company had revenue of $598.35 million for the quarter, compared to the consensus estimate of $589.49 million. During the same period last year, the firm posted $0.21 EPS. New York Times’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts anticipate that The New York Times Company will post 1.49 EPS for the current year.

New York Times Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 26th. Shareholders of record on Tuesday, October 10th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, October 6th. New York Times’s payout ratio is currently 37.93%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NYT shares. StockNews.com lowered shares of New York Times from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. JPMorgan Chase & Co. raised their price objective on shares of New York Times from $41.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, August 9th. Morgan Stanley raised their price objective on shares of New York Times from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. Guggenheim raised their price objective on shares of New York Times from $37.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, August 10th. Finally, Barclays lifted their price target on shares of New York Times from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, New York Times has a consensus rating of “Hold” and an average price target of $42.75.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. It offers The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com website.