Deutsche Bank AG Increases Stock Position in The New York Times Company (NYSE:NYT)

Deutsche Bank AG boosted its position in The New York Times Company (NYSE:NYT) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,449 shares of the company’s stock after acquiring an additional 2,510 shares during the period. Deutsche Bank AG’s holdings in New York Times were worth $1,689,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NYT. Barclays PLC grew its stake in shares of New York Times by 113.2% in the third quarter. Barclays PLC now owns 123,256 shares of the company’s stock worth $6,862,000 after purchasing an additional 65,438 shares during the last quarter. UMB Bank n.a. lifted its holdings in New York Times by 61.4% in the 4th quarter. UMB Bank n.a. now owns 744 shares of the company’s stock worth $39,000 after buying an additional 283 shares during the period. Exchange Traded Concepts LLC lifted its holdings in New York Times by 2.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 14,122 shares of the company’s stock worth $735,000 after buying an additional 355 shares during the period. First Citizens Bank & Trust Co. grew its position in shares of New York Times by 11.7% in the 4th quarter. First Citizens Bank & Trust Co. now owns 4,573 shares of the company’s stock worth $238,000 after buying an additional 479 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of New York Times by 38.9% during the fourth quarter. Blue Trust Inc. now owns 7,733 shares of the company’s stock valued at $430,000 after buying an additional 2,165 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NYT. Wall Street Zen raised New York Times from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Guggenheim upped their price objective on shares of New York Times from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Finally, Morgan Stanley cut their target price on shares of New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, New York Times presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

New York Times Stock Up 1.0%

NYT opened at $55.42 on Friday. The New York Times Company has a 52 week low of $44.83 and a 52 week high of $58.16. The stock has a market cap of $9.04 billion, a PE ratio of 31.14, a PEG ratio of 1.75 and a beta of 1.16. The business has a 50 day moving average of $50.73 and a 200-day moving average of $51.62.

New York Times (NYSE:NYT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. The business had revenue of $635.91 million during the quarter, compared to analyst estimates of $634.99 million. During the same quarter last year, the firm posted $0.31 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts anticipate that The New York Times Company will post 2.08 EPS for the current year.

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.