Darsana Capital Partners LP Sells 1,250,000 Shares of The New York Times Company (NYSE:NYT)

Darsana Capital Partners LP reduced its position in shares of The New York Times Company (NYSE:NYT) by 20.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000,000 shares of the company’s stock after selling 1,250,000 shares during the period. New York Times makes up approximately 6.9% of Darsana Capital Partners LP’s investment portfolio, making the stock its 9th biggest position. Darsana Capital Partners LP’s holdings in New York Times were worth $278,350,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NYT. UMB Bank n.a. boosted its position in New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after buying an additional 360 shares in the last quarter. GAMMA Investing LLC increased its holdings in New York Times by 129.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after purchasing an additional 792 shares in the last quarter. Signaturefd LLC raised its position in New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock valued at $87,000 after purchasing an additional 432 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of New York Times by 401.8% during the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Paladin Wealth LLC bought a new stake in shares of New York Times during the third quarter worth about $172,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Trading Down 0.2 %

Shares of NYT opened at $54.26 on Friday. The firm’s fifty day simple moving average is $54.82 and its two-hundred day simple moving average is $53.20. The New York Times Company has a 12 month low of $41.55 and a 12 month high of $57.08. The stock has a market capitalization of $8.90 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

New York Times (NYSE:NYT) last announced its earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. The company had revenue of $640.20 million for the quarter, compared to analyst estimates of $641.00 million. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 EPS. As a group, research analysts predict 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 disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a dividend yield of 0.96%. New York Times’s dividend payout ratio is currently 30.77%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NYT. Deutsche Bank Aktiengesellschaft raised 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 note on Tuesday, November 5th. Barclays lifted their target price on New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their price target on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, New York Times currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

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.