Deutsche Bank Aktiengesellschaft Begins Coverage on New York Times (NYSE:NYT)

Deutsche Bank Aktiengesellschaft assumed coverage on shares of New York Times (NYSE:NYT) in a research note released on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $65.00 price objective on the stock.

Other equities analysts also recently issued reports about the company. Barclays boosted their price objective on New York Times from $40.00 to $45.00 and gave the stock an equal weight rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on New York Times from $56.00 to $58.00 and gave the stock an overweight rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, New York Times currently has a consensus rating of Moderate Buy and an average price target of $52.71.

New York Times Price Performance

Shares of NYSE NYT opened at $55.44 on Wednesday. The firm has a market capitalization of $9.10 billion, a PE ratio of 34.22 and a beta of 1.03. New York Times has a 1-year low of $39.73 and a 1-year high of $56.49. The business’s fifty day moving average price is $54.35 and its two-hundred day moving average price is $50.50.

New York Times (NYSE:NYT) last released 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. The business had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $624.82 million. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 EPS. Equities research analysts expect that New York Times will post 1.9 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. Investors of record on Wednesday, October 9th will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.94%. New York Times’s dividend payout ratio is currently 32.10%.

Insider Buying and Selling

In other news, CFO William Bardeen sold 2,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO William Bardeen sold 2,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the sale, the chief financial officer now owns 10,315 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction 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 owns 101,772 shares in the company, valued at $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. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of New York Times

Hedge funds have recently bought and sold shares of the company. UMB Bank n.a. grew its holdings in shares of New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after buying an additional 360 shares in the last quarter. GAMMA Investing LLC grew its stake in New York Times by 129.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock valued at $72,000 after acquiring an additional 792 shares in the last quarter. Signaturefd LLC increased its holdings in shares of New York Times by 34.2% in 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 period. Blue Trust Inc. lifted its position in shares of New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Paladin Wealth LLC acquired a new stake in shares of New York Times during the third quarter worth approximately $172,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.