New York Times (NYSE:NYT) Price Target Increased to $58.00 by Analysts at JPMorgan Chase & Co.

New York Times (NYSE:NYT) had its target price lifted by JPMorgan Chase & Co. from $56.00 to $58.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Evercore ISI upped their target price on New York Times from $50.00 to $53.00 and gave the company an outperform rating in a research report on Thursday, May 9th. Barclays upped 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, New York Times has a consensus rating of Moderate Buy and an average target price of $49.57.

New York Times Trading Up 0.5 %

Shares of NYSE NYT traded up $0.25 during trading hours on Thursday, reaching $53.96. The stock had a trading volume of 1,005,869 shares, compared to its average volume of 1,208,076. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 35.97 and a beta of 1.06. New York Times has a fifty-two week low of $39.73 and a fifty-two week high of $56.49. The firm has a 50-day moving average of $51.93 and a 200-day moving average of $47.52.

New York Times (NYSE:NYT) last announced its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.05. The firm had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. New York Times had a return on equity of 17.33% and a net margin of 10.19%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS. On average, equities analysts predict that New York Times will post 1.77 EPS for the current year.

New York Times Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.96%. The ex-dividend date was Tuesday, July 9th. New York Times’s dividend payout ratio is presently 34.67%.

Insider Transactions at New York Times

In other news, CAO R Anthony Benten sold 5,171 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $48.98, for a total transaction of $253,275.58. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On New York Times

A number of large investors have recently modified their holdings of NYT. GAMMA Investing LLC purchased a new position in shares of New York Times during the 4th quarter worth approximately $31,000. Signaturefd LLC raised its stake 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 buying an additional 432 shares in the last quarter. Blue Trust Inc. raised its stake in shares of New York Times by 401.8% during the 2nd quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock worth $115,000 after buying an additional 1,800 shares in the last quarter. TFO Wealth Partners LLC raised its stake in shares of New York Times by 84,033.3% during 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 in the last quarter. Finally, Quadrant Capital Group LLC increased its stake 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 purchasing an additional 451 shares in the last quarter. 95.37% of the stock is owned by hedge funds and other 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.