The Manufacturers Life Insurance Company Has $7.50 Million Holdings in The New York Times Company (NYSE:NYT)

The Manufacturers Life Insurance Company cut its holdings in The New York Times Company (NYSE:NYT) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,789 shares of the company’s stock after selling 5,095 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in New York Times were worth $7,504,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Darsana Capital Partners LP increased its holdings in shares of New York Times by 25.0% during the second quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock valued at $320,062,000 after acquiring an additional 1,250,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of New York Times by 19.8% during the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock valued at $149,131,000 after acquiring an additional 482,200 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of New York Times by 22.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock valued at $124,164,000 after acquiring an additional 438,680 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of New York Times by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,862,569 shares of the company’s stock valued at $103,689,000 after acquiring an additional 7,654 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of New York Times by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 1,660,015 shares of the company’s stock valued at $85,009,000 after acquiring an additional 19,196 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

New York Times Trading Up 1.2 %

NYT stock opened at $54.61 on Thursday. The stock’s fifty day simple moving average is $54.77 and its two-hundred day simple moving average is $53.35. The New York Times Company has a 1-year low of $41.55 and a 1-year high of $57.08. The stock has a market cap of $8.95 billion, a P/E ratio of 32.31, a P/E/G ratio of 1.72 and a beta of 1.00.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The business had revenue of $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. As a group, analysts forecast that The New York Times Company will post 1.84 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.95%. New York Times’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NYT shares. JPMorgan Chase & Co. boosted their price objective on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays upped their price target 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. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

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.