New York Times (NYSE:NYT) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of New York Times (NYSE:NYT) from a buy rating to a hold rating in a report published on Wednesday morning.

Several other brokerages have also issued reports on NYT. JPMorgan Chase & Co. increased 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, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.71.

New York Times Trading Down 0.8 %

NYSE NYT opened at $48.79 on Wednesday. The business’s 50-day moving average price is $53.31 and its two-hundred day moving average price is $54.06. New York Times has a 12 month low of $41.55 and a 12 month high of $58.16. The firm has a market capitalization of $8.00 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01.

New York Times (NYSE:NYT) last announced its 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 return on equity of 17.75% and a net margin of 11.04%. As a group, analysts forecast that New York Times will post 1.84 earnings per share 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. Investors of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, April 1st. This is an increase from New York Times’s previous quarterly dividend of $0.13. New York Times’s payout ratio is currently 30.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in New York Times by 2.0% during the 3rd quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock valued at $338,168,000 after purchasing an additional 118,479 shares during the period. State Street Corp boosted its position in New York Times by 0.7% during the 3rd quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after acquiring an additional 32,905 shares in the last quarter. Geode Capital Management LLC boosted its position in New York Times by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,932,816 shares of the company’s stock valued at $218,978,000 after acquiring an additional 154,509 shares in the last quarter. Franklin Resources Inc. boosted its position in New York Times by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock valued at $187,544,000 after acquiring an additional 49,853 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its position in New York Times by 228.3% during the 4th quarter. Baillie Gifford & Co. now owns 2,536,795 shares of the company’s stock valued at $132,040,000 after acquiring an additional 1,764,078 shares in 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.