Brokerages Set The New York Times Company (NYSE:NYT) Price Target at $52.71

Shares of The New York Times Company (NYSE:NYT) have been given an average recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $52.71.

A number of research firms recently weighed in on NYT. JPMorgan Chase & Co. increased their price objective on shares of New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Barclays increased 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. Finally, Deutsche Bank Aktiengesellschaft started coverage on New York Times in a report on Wednesday, October 9th. They set a “buy” rating and a $65.00 price objective for the company.

New York Times Stock Performance

Shares of New York Times stock opened at $55.07 on Tuesday. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of 36.71 and a beta of 1.03. The stock has a 50 day moving average price of $54.70 and a 200-day moving average price of $51.19. New York Times has a one year low of $39.73 and a one year high of $56.49.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $624.82 million. During the same period in the previous year, the firm earned $0.38 earnings per share. New York Times’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts predict that New York Times will post 1.83 earnings per share for the current fiscal year.

New York Times Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Wednesday, October 9th. New York Times’s dividend payout ratio is 34.67%.

Insider Activity

In other New York Times news, CFO William Bardeen sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total transaction of $109,120.00. Following the transaction, the chief financial officer now directly owns 10,315 shares in the company, valued at $562,786.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO William Bardeen sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the sale, the chief financial officer now owns 10,315 shares of the company’s stock, valued at approximately $562,786.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the transaction, the chief executive officer now directly owns 101,772 shares in the company, valued at approximately $5,487,546.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On New York Times

Hedge funds have recently made changes to their positions in the stock. Oak Family Advisors LLC raised its holdings in New York Times by 2.2% in the second quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock worth $547,000 after purchasing an additional 231 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in New York Times by 2.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock valued at $608,000 after acquiring an additional 247 shares in the last quarter. UMB Bank n.a. grew its holdings in New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the last quarter. Capital Investment Counsel Inc increased its position in shares of New York Times by 1.7% during the second quarter. Capital Investment Counsel Inc now owns 22,701 shares of the company’s stock worth $1,163,000 after purchasing an additional 380 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of New York Times by 34.2% during the 2nd 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. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

About New York Times

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.