Franklin Resources Inc. Has $579,000 Position in New York Times Co (NYT)

Franklin Resources Inc. held its stake in New York Times Co (NYSE:NYT) during the fourth quarter, Holdings Channel reports. The firm owned 43,529 shares of the company’s stock at the end of the fourth quarter. Franklin Resources Inc.’s holdings in New York Times were worth $579,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Contrarius Investment Management Ltd boosted its stake in New York Times by 4.6% in the third quarter. Contrarius Investment Management Ltd now owns 8,312,235 shares of the company’s stock worth $99,331,000 after buying an additional 363,151 shares during the period. BlackRock Fund Advisors boosted its stake in New York Times by 5.7% in the third quarter. BlackRock Fund Advisors now owns 6,442,407 shares of the company’s stock worth $76,987,000 after buying an additional 344,620 shares during the period. Dimensional Fund Advisors LP boosted its stake in New York Times by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,073,666 shares of the company’s stock worth $67,480,000 after buying an additional 163,490 shares during the period. State Street Corp boosted its stake in New York Times by 1.4% in the fourth quarter. State Street Corp now owns 4,163,432 shares of the company’s stock worth $55,377,000 after buying an additional 59,051 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in New York Times by 15.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,384,400 shares of the company’s stock worth $18,413,000 after buying an additional 189,800 shares during the period. Institutional investors and hedge funds own 62.66% of the company’s stock.

Institutional Ownership by Quarter for New York Times (NYSE:NYT)

New York Times Co (NYSE:NYT) opened at 14.25 on Friday. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 80.97 and a beta of 1.51. New York Times Co has a one year low of $10.60 and a one year high of $16.35. The firm has a 50-day moving average price of $14.81 and a 200-day moving average price of $13.15.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.06. New York Times had a return on equity of 11.87% and a net margin of 1.87%. The firm earned $439.70 million during the quarter, compared to analysts’ expectations of $437.80 million. During the same quarter last year, the firm posted $0.37 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts expect that New York Times Co will post $0.55 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 20th. Shareholders of record on Wednesday, April 5th will be paid a $0.04 dividend. The ex-dividend date is Monday, April 3rd. This represents a $0.16 dividend on an annualized basis and a yield of 1.12%. New York Times’s dividend payout ratio (DPR) is presently 88.89%.

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NYT has been the topic of a number of research analyst reports. Argus restated a “hold” rating on shares of New York Times in a research note on Friday, December 30th. Zacks Investment Research upgraded New York Times from a “sell” rating to a “hold” rating in a research note on Tuesday, December 20th. TheStreet upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, January 4th. Jefferies Group LLC increased their price target on New York Times to $12.00 and gave the company a “hold” rating in a research note on Friday, February 3rd. Finally, Singular Research initiated coverage on New York Times in a research note on Thursday, February 9th. They issued a “sell” rating and a $7.80 price target on the stock. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. New York Times currently has an average rating of “Hold” and a consensus price target of $11.27.

In related news, Director Doreen A. Toben sold 8,000 shares of New York Times stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $16.06, for a total transaction of $128,480.00. Following the transaction, the director now owns 18,342 shares of the company’s stock, valued at $294,572.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.20% of the stock is owned by insiders.

About New York Times

The New York Times Company is a media organization focused on creating, collecting and distributing news and information. The Company includes newspapers, digital businesses and investments. Its businesses include newspapers, such as The New York Times; the International New York Times (INYT), the international edition of The Times; Websites, including NYTimes.com and international.nytimes.com; mobile applications, including The Times’s news applications, as well as interest-specific applications, such as NYT Cooking, Crossword and others, and related businesses, such as The Times news services division, digital archive distribution, NYT Live, and other products and services under The Times brand.

5 Day Chart for NYSE:NYT

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