New York Times (NYSE:NYT) Reaches New 52-Week High – Still a Buy?

Shares of The New York Times Company (NYSE:NYT) reached 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.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays upped their price target on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their price target on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $53.43.

New York Times Stock Performance

The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 33.01 and a beta of 1.02. The business has a fifty day simple moving average of $54.79 and a 200-day simple moving average of $52.20.

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

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 annualized dividend and a yield of 0.92%. New York Times’s payout ratio is 30.77%.

Insider Transactions at New York Times

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $53.92, for a total value of $986,736.00. Following the transaction, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of New York Times

Several large investors have recently made changes to their positions in the company. Texas Permanent School Fund Corp increased its stake in New York Times by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 143,204 shares of the company’s stock valued at $6,189,000 after purchasing an additional 1,854 shares in the last quarter. Duality Advisers LP bought a new stake in shares of New York Times during the first quarter worth about $983,000. Quantbot Technologies LP bought a new stake in shares of New York Times during the first quarter worth about $2,293,000. Swiss National Bank raised its holdings in shares of New York Times by 0.3% in the 1st quarter. Swiss National Bank now owns 307,000 shares of the company’s stock worth $13,269,000 after acquiring an additional 800 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in New York Times during the 1st quarter valued at about $2,740,000. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.