New York Times (NYSE:NYT) Sets New 12-Month High – Here’s Why

Shares of The New York Times Company (NYSE:NYT) hit a new 52-week high during trading on Friday . The stock traded as high as $57.70 and last traded at $57.70, with a volume of 296 shares changing hands. The stock had previously closed at $55.80.

Wall Street Analysts Forecast Growth

NYT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Barclays lifted 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.43.

New York Times Stock Up 1.0 %

The firm has a 50 day moving average of $54.79 and a 200 day moving average of $52.20. The firm has a market cap of $9.26 billion, a PE ratio of 33.01 and a beta of 1.02.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.95% and a net margin of 11.04%. The company had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same quarter in the prior year, the company earned $0.37 EPS. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. On average, research analysts anticipate that The New York Times Company will post 1.83 EPS for the current year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Wednesday, October 9th. New York Times’s dividend payout ratio (DPR) is currently 30.77%.

Insider Activity at New York Times

In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of New York Times

Institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. raised its stake in New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after purchasing an additional 360 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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 buying an additional 792 shares in the last quarter. 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 worth $87,000 after acquiring an additional 432 shares during the last quarter. Blue Trust Inc. increased its stake in New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Paladin Wealth LLC purchased a new stake in New York Times during the third quarter valued at about $172,000. 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.