Jackson Square Partners LLC Trims Holdings in The New York Times Company (NYSE:NYT)

Jackson Square Partners LLC trimmed its holdings in The New York Times Company (NYSE:NYT) by 57.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 459,552 shares of the company’s stock after selling 631,040 shares during the period. New York Times accounts for approximately 2.6% of Jackson Square Partners LLC’s portfolio, making the stock its 14th largest position. Jackson Square Partners LLC owned about 0.28% of New York Times worth $23,920,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mountain Hill Investment Partners Corp. acquired a new position in shares of New York Times during the fourth quarter worth about $36,000. UMB Bank n.a. lifted its holdings in shares of New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock valued at $39,000 after buying an additional 283 shares during the period. Smartleaf Asset Management LLC grew its holdings in New York Times by 27.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,140 shares of the company’s stock worth $60,000 after acquiring an additional 247 shares during the period. GAMMA Investing LLC raised its position in New York Times by 20.2% in the fourth quarter. GAMMA Investing LLC now owns 2,526 shares of the company’s stock worth $131,000 after acquiring an additional 424 shares in the last quarter. Finally, Portfolio Design Labs LLC purchased a new stake in shares of New York Times during the 4th quarter worth $202,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of New York Times stock opened at $48.62 on Tuesday. The New York Times Company has a 1 year low of $41.55 and a 1 year high of $58.16. The firm’s 50-day simple moving average is $50.16 and its 200-day simple moving average is $52.81. The firm has a market cap of $7.94 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.75 and a beta of 1.18.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. On average, 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 announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders 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 dividend yield of 1.48%. This is a boost from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, April 1st. New York Times’s dividend payout ratio is 40.45%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NYT. Morgan Stanley reduced their price objective 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 raised shares of New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, New York Times currently has an average rating of “Moderate Buy” and an average target price of $56.00.

New York Times Company 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.