Brokerages Set The New York Times Company (NYSE:NYT) Price Target at $50.67

Shares of The New York Times Company (NYSE:NYT) have earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $50.67.

Several equities analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. boosted their price target on shares of New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, Barclays raised their price objective on shares of New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th.

Insider Transactions at New York Times

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

Hedge Funds Weigh In On New York Times

Several hedge funds have recently bought and sold shares of the stock. LGT Group Foundation boosted its stake in shares of New York Times by 43.8% during the fourth quarter. LGT Group Foundation now owns 903,097 shares of the company’s stock valued at $43,827,000 after acquiring an additional 275,212 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of New York Times by 72.9% during the 1st quarter. Janus Henderson Group PLC now owns 122,820 shares of the company’s stock worth $5,308,000 after purchasing an additional 51,801 shares during the last quarter. Cullinan Associates Inc. grew its holdings in shares of New York Times by 10.3% during the first quarter. Cullinan Associates Inc. now owns 195,593 shares of the company’s stock worth $8,454,000 after buying an additional 18,337 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of New York Times by 3,368.3% in the fourth quarter. Allianz Asset Management GmbH now owns 181,981 shares of the company’s stock valued at $8,915,000 after buying an additional 176,734 shares during the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of New York Times during the first quarter valued at approximately $473,000. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Performance

Shares of NYT opened at $54.93 on Monday. New York Times has a fifty-two week low of $39.73 and a fifty-two week high of $56.49. The firm has a 50-day simple moving average of $53.29 and a 200-day simple moving average of $48.36. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 36.62 and a beta of 1.06.

New York Times (NYSE:NYT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The company had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. During the same period last year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts forecast that New York Times will post 1.9 EPS for the current year.

New York Times Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were issued a $0.13 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.95%. New York Times’s dividend payout ratio (DPR) is presently 34.67%.

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.