New York Times (NYSE:NYT) Reaches New 1-Year High at $52.58

The New York Times Company (NYSE:NYT)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $52.58 and last traded at $52.51, with a volume of 90712 shares trading hands. The stock had previously closed at $52.27.

Analysts Set New Price Targets

NYT has been the subject of several research analyst reports. Evercore ISI lifted their price objective on New York Times from $50.00 to $53.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th. Citigroup initiated coverage on New York Times in a research note on Tuesday, March 12th. They set a “buy” rating and a $52.00 price objective for the company. Finally, StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, New York Times has a consensus rating of “Moderate Buy” and an average price target of $46.71.

New York Times Stock Up 0.9 %

The stock has a 50-day simple moving average of $49.63 and a two-hundred day simple moving average of $46.66. The firm has a market cap of $8.61 billion, a PE ratio of 34.86 and a beta of 1.06.

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

New York Times Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders 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 dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, July 9th. New York Times’s dividend payout ratio (DPR) is presently 34.67%.

Insider Activity

In other news, CAO R Anthony Benten sold 5,171 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total value of $253,275.58. Following the completion of the sale, the chief accounting officer now owns 38,576 shares of the company’s stock, valued at approximately $1,889,452.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other New York Times 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 transaction 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 approximately $5,729,835.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO R Anthony Benten sold 5,171 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $48.98, for a total value of $253,275.58. Following the transaction, the chief accounting officer now directly owns 38,576 shares of the company’s stock, valued at approximately $1,889,452.48. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NYT. Contravisory Investment Management Inc. purchased a new position in shares of New York Times during the 4th quarter worth approximately $27,000. GAMMA Investing LLC purchased a new stake in shares of New York Times in the 4th quarter worth approximately $31,000. TFO Wealth Partners LLC grew its stake in shares of New York Times by 84,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after buying an additional 2,521 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of New York Times by 15.9% in the 4th quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock worth $161,000 after buying an additional 451 shares during the last quarter. Finally, Boston Family Office LLC purchased a new stake in shares of New York Times in the 4th quarter worth approximately $206,000. Institutional investors own 95.37% of the company’s stock.

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.