New York Times (NYSE:NYT) Sets New 12-Month High at $51.98

Shares of The New York Times Company (NYSE:NYT) reached a new 52-week high during trading on Monday . The company traded as high as $51.98 and last traded at $51.11, with a volume of 228740 shares traded. The stock had previously closed at $51.21.

Analyst Ratings Changes

A number of equities analysts have commented on NYT shares. Citigroup started coverage on shares of New York Times in a research report on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective for the company. Evercore ISI lifted their price objective on shares of New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a research report on Thursday, May 9th. Argus raised shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Monday, March 4th. Finally, StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.71.

New York Times Price Performance

The company has a market cap of $8.41 billion, a P/E ratio of 34.14 and a beta of 1.06. The stock’s 50-day moving average price is $48.40 and its 200-day moving average price is $46.36.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. The business had revenue of $594.00 million during the quarter, compared to the consensus estimate of $591.97 million. New York Times had a return on equity of 17.33% and a net margin of 10.19%. New York Times’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. As a group, analysts expect that The New York Times Company will post 1.77 EPS for the current fiscal year.

New York Times Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Tuesday, July 9th. New York Times’s dividend payout ratio (DPR) is presently 34.67%.

Insiders Place Their Bets

In other news, CEO Levien Meredith A. Kopit sold 12,548 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $47.72, for a total value of $598,790.56. Following the completion of the transaction, the chief executive officer now owns 120,072 shares of the company’s stock, valued at $5,729,835.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO R Anthony Benten sold 5,171 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total value of $253,275.58. Following the sale, the chief accounting officer now directly owns 38,576 shares in the company, valued at $1,889,452.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 12,548 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $47.72, for a total value of $598,790.56. Following the completion of the sale, the chief executive officer now owns 120,072 shares in the company, valued at $5,729,835.84. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On New York Times

Institutional investors and hedge funds have recently modified their holdings of the business. Treasurer of the State of North Carolina raised its position in shares of New York Times by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 70,924 shares of the company’s stock worth $2,922,000 after purchasing an additional 360 shares during the period. Hall Laurie J Trustee raised its position in New York Times by 0.6% in the 1st quarter. Hall Laurie J Trustee now owns 74,860 shares of the company’s stock valued at $3,236,000 after buying an additional 410 shares during the last quarter. Quadrant Capital Group LLC raised its position in New York Times by 15.9% in the 4th quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock valued at $161,000 after buying an additional 451 shares during the last quarter. Commonwealth Equity Services LLC raised its position in New York Times by 3.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 17,222 shares of the company’s stock valued at $744,000 after buying an additional 527 shares during the last quarter. Finally, Confluence Wealth Services Inc. raised its position in New York Times by 3.2% in the 1st quarter. Confluence Wealth Services Inc. now owns 17,146 shares of the company’s stock valued at $741,000 after buying an additional 538 shares during the last quarter. 95.37% of the stock is currently owned by 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.