New York Times (NYSE:NYT) Sets New 12-Month High at $51.98

Shares of The New York Times Company (NYSE:NYT) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $51.98 and last traded at $51.11, with a volume of 228740 shares trading hands. The stock had previously closed at $51.21.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Argus raised New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday, March 4th. Citigroup assumed coverage on New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Evercore ISI upped their price target on New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a report on Thursday, May 9th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.71.

New York Times Trading Down 0.1 %

The company has a market cap of $8.41 billion, a price-to-earnings ratio of 34.14 and a beta of 1.06. The business has a fifty day moving average of $48.40 and a two-hundred day moving average of $46.36.

New York Times (NYSE:NYT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. The business had revenue of $594.00 million during the quarter, compared to analyst estimates of $591.97 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 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. On average, research analysts forecast that The New York Times Company will post 1.77 EPS for the current fiscal year.

New York Times Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $0.52 annualized dividend and a dividend yield of 1.02%. New York Times’s dividend payout ratio is currently 34.67%.

Insider Transactions at New York Times

In other news, CAO R Anthony Benten sold 5,171 shares of the firm’s stock in a transaction 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 in the company, valued at $1,889,452.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other New York Times news, 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 value of $598,790.56. Following the sale, the chief executive officer now directly owns 120,072 shares in the company, valued at $5,729,835.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO R Anthony Benten sold 5,171 shares of the firm’s 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 completion of the sale, the chief accounting officer now owns 38,576 shares in the company, valued at $1,889,452.48. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Trading of New York Times

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Treasurer of the State of North Carolina grew its holdings in shares of New York Times by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 70,924 shares of the company’s stock worth $2,922,000 after purchasing an additional 360 shares during the last quarter. Hall Laurie J Trustee grew its holdings in shares of New York Times by 0.6% during the first quarter. Hall Laurie J Trustee now owns 74,860 shares of the company’s stock worth $3,236,000 after purchasing an additional 410 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of New York Times by 15.9% during the fourth quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock worth $161,000 after purchasing an additional 451 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of New York Times by 3.2% during the first quarter. Commonwealth Equity Services LLC now owns 17,222 shares of the company’s stock worth $744,000 after purchasing an additional 527 shares during the last quarter. Finally, Confluence Wealth Services Inc. grew its holdings in shares of New York Times by 3.2% during the first quarter. Confluence Wealth Services Inc. now owns 17,146 shares of the company’s stock worth $741,000 after purchasing an additional 538 shares during the last quarter. 95.37% of the stock is currently owned by institutional investors and hedge funds.

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.