New York Times (NYSE:NYT) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

New York Times (NYSE:NYT) had its price target raised by equities researchers at Deutsche Bank Aktiengesellschaft from $65.00 to $66.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 23.92% from the stock’s previous close.

Several other analysts also recently weighed in on NYT. JPMorgan Chase & Co. lifted their target price on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Barclays lifted their price objective on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, New York Times has an average rating of “Moderate Buy” and an average price target of $52.86.

New York Times Stock Performance

Shares of New York Times stock traded up $0.81 during trading hours on Tuesday, hitting $53.26. The company’s stock had a trading volume of 281,230 shares, compared to its average volume of 1,098,191. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 32.93 and a beta of 1.02. New York Times has a twelve month low of $41.02 and a twelve month high of $57.08. The firm has a fifty day moving average of $54.78 and a 200-day moving average of $52.07.

New York Times (NYSE:NYT) last posted its earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates 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 $640.20 million for the quarter, compared to analysts’ expectations of $641.00 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. New York Times’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, sell-side analysts expect that New York Times will post 1.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’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 transaction of $986,736.00. Following the completion of the sale, the chief executive officer now owns 101,772 shares in the company, valued at $5,487,546.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other New York Times news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’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 transaction of $986,736.00. Following the transaction, the chief executive officer now owns 101,772 shares in the company, valued at approximately $5,487,546.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO William Bardeen sold 2,000 shares of the firm’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 directly owns 10,315 shares of the company’s stock, valued at $562,786.40. This represents 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 insiders.

Hedge Funds Weigh In On New York Times

Institutional investors and hedge funds have recently made changes to their positions in the stock. Farallon Capital Management LLC grew its stake in New York Times by 18.1% in the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after acquiring an additional 1,711,268 shares during the last quarter. Darsana Capital Partners LP grew its stake in New York Times by 25.0% in the 2nd 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 during the last quarter. Renaissance Technologies LLC grew its stake in New York Times by 19.8% in the 2nd 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 during the last quarter. Dimensional Fund Advisors LP grew its stake in New York Times by 22.1% in the 2nd 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 during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in New York Times by 1.2% in the 2nd 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 during the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

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.