Analysts Set The New York Times Company (NYSE:NYT) Target Price at $46.71

The New York Times Company (NYSE:NYT) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $46.71.

NYT has been the topic of several research analyst reports. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Evercore ISI increased their price target on shares of New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th.

Insider Transactions at New York Times

In related news, CAO R Anthony Benten sold 5,171 shares of New York Times stock in a transaction 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 owns 38,576 shares in the company, valued at approximately $1,889,452.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO R Anthony Benten sold 5,171 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 38,576 shares in the company, valued at approximately $1,889,452.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Levien Meredith A. Kopit sold 12,548 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 120,072 shares in the company, valued at approximately $5,729,835.84. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On New York Times

Several institutional investors and hedge funds have recently bought and sold shares of NYT. Douglas Lane & Associates LLC raised its holdings in New York Times by 28.6% in the 2nd quarter. Douglas Lane & Associates LLC now owns 114,230 shares of the company’s stock worth $5,850,000 after purchasing an additional 25,408 shares in the last quarter. Quent Capital LLC increased its position in shares of New York Times by 4.3% during the second quarter. Quent Capital LLC now owns 24,107 shares of the company’s stock valued at $1,234,000 after buying an additional 1,001 shares during the period. GAMMA Investing LLC raised its stake in New York Times by 129.4% in the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after buying an additional 792 shares in the last quarter. Farallon Capital Management LLC lifted its holdings in New York Times by 18.1% in the first quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock worth $483,548,000 after buying an additional 1,711,268 shares during the period. Finally, Comerica Bank boosted its position in New York Times by 15.6% during the 1st quarter. Comerica Bank now owns 83,282 shares of the company’s stock valued at $3,599,000 after acquiring an additional 11,234 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times Stock Performance

New York Times stock opened at $52.59 on Friday. New York Times has a fifty-two week low of $39.73 and a fifty-two week high of $53.29. The stock has a market cap of $8.64 billion, a P/E ratio of 35.22 and a beta of 1.06. The firm’s fifty day moving average price is $49.81 and its 200-day moving average price is $46.70.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, May 8th. The company reported $0.31 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $591.97 million. During the same period in the previous year, the business earned $0.19 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. Sell-side analysts predict that New York Times will post 1.77 earnings per share for the current year.

New York Times Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend 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%.

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.