Brokerages Set The New York Times Company (NYSE:NYT) PT at $54.71

The New York Times Company (NYSE:NYT) has been assigned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $54.71.

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Morgan Stanley reduced their price target on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th.

New York Times Stock Performance

Shares of NYT opened at $49.47 on Monday. New York Times has a one year low of $41.55 and a one year high of $58.16. The stock has a 50 day moving average price of $52.35 and a 200 day moving average price of $53.80. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.78 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. On average, analysts predict that New York Times will post 2.08 earnings per share for the current year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Tuesday, April 1st will be given a $0.18 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.46%. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio is presently 40.45%.

Institutional Investors Weigh In On New York Times

Institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. increased its holdings in New York Times by 228.3% in the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock valued at $132,040,000 after purchasing an additional 1,764,078 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of New York Times by 210.5% in the fourth quarter. Squarepoint Ops LLC now owns 1,382,695 shares of the company’s stock valued at $71,969,000 after buying an additional 937,354 shares in the last quarter. Millennium Management LLC raised its holdings in shares of New York Times by 133.6% in the 4th quarter. Millennium Management LLC now owns 1,559,837 shares of the company’s stock valued at $81,190,000 after buying an additional 892,155 shares during the period. Alliancebernstein L.P. lifted its stake in New York Times by 87.6% during the 4th quarter. Alliancebernstein L.P. now owns 1,908,477 shares of the company’s stock worth $99,336,000 after acquiring an additional 891,249 shares in the last quarter. Finally, Darsana Capital Partners LP grew its position in New York Times by 15.0% in the 4th quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock valued at $299,288,000 after acquiring an additional 750,000 shares in the last quarter. 95.37% of the stock is 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.