New York Times (NYSE:NYT) Given New $54.00 Price Target at Morgan Stanley

New York Times (NYSE:NYT) had its target price cut by Morgan Stanley from $56.00 to $54.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts also recently commented on NYT. Deutsche Bank Aktiengesellschaft upped their price target on shares of New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on shares of New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, StockNews.com downgraded shares of New York Times from a “buy” rating to a “hold” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.71.

New York Times Trading Up 0.1 %

Shares of NYSE:NYT opened at $49.29 on Thursday. The company has a market capitalization of $8.08 billion, a price-to-earnings ratio of 29.16, a PEG ratio of 1.51 and a beta of 1.01. New York Times has a 12 month low of $41.55 and a 12 month high of $58.16. The firm’s 50-day moving average is $53.41 and its 200 day moving average is $54.09.

New York Times (NYSE:NYT) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.74 by $0.06. New York Times had a net margin of 11.04% and a return on equity of 17.75%. As a group, equities analysts forecast that New York Times will post 1.84 EPS for the current fiscal year.

New York Times Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio is presently 30.77%.

Institutional Investors Weigh In On New York Times

Several hedge funds have recently modified their holdings of NYT. Creative Planning lifted its position in shares of New York Times by 9.6% in the 2nd quarter. Creative Planning now owns 10,383 shares of the company’s stock worth $532,000 after purchasing an additional 912 shares during the period. Handelsbanken Fonder AB lifted its position in shares of New York Times by 20.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 46,304 shares of the company’s stock worth $2,578,000 after purchasing an additional 7,900 shares during the period. GAMMA Investing LLC lifted its position in shares of New York Times by 49.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,102 shares of the company’s stock worth $117,000 after purchasing an additional 698 shares during the period. UMB Bank n.a. lifted its position in New York Times by 356.4% during the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after acquiring an additional 360 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its position in New York Times by 3.6% during the third quarter. Douglas Lane & Associates LLC now owns 118,346 shares of the company’s stock valued at $6,588,000 after acquiring an additional 4,116 shares during the last quarter. Hedge funds and other 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.