New York Times (NYSE:NYT) Reaches New 12-Month High at $54.03

The New York Times Company (NYSE:NYT)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $54.03 and last traded at $53.73, with a volume of 118796 shares. The stock had previously closed at $52.92.

Wall Street Analysts Forecast Growth

NYT has been the subject of several research analyst reports. Evercore ISI raised their price objective on New York Times from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Thursday, May 9th. StockNews.com raised New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Three equities 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $46.71.

New York Times Stock Up 1.6 %

The firm has a market cap of $8.83 billion, a PE ratio of 35.81 and a beta of 1.06. The firm has a 50-day moving average price of $50.13 and a two-hundred day moving average price of $46.79.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, May 8th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $594.00 million for the quarter, compared to the consensus estimate of $591.97 million. During the same quarter in the previous year, the business earned $0.19 earnings per share. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Research analysts forecast that The New York Times Company will post 1.77 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be given a $0.13 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $0.52 dividend on an annualized basis and a yield of 0.97%. New York Times’s dividend payout ratio is currently 34.67%.

Insider Activity

In other news, CAO R Anthony Benten sold 5,171 shares of New York Times stock in a transaction on Tuesday, May 21st. The stock was 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 directly owns 38,576 shares of the company’s stock, valued at $1,889,452.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times 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 completion of the sale, the chief executive officer now directly owns 120,072 shares of the company’s stock, valued at $5,729,835.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the chief accounting officer now directly owns 38,576 shares of the company’s stock, valued at $1,889,452.48. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NYT. Contravisory Investment Management Inc. acquired a new position in New York Times during the 4th quarter worth $27,000. GAMMA Investing LLC acquired a new position in shares of New York Times during the 4th quarter worth about $31,000. TFO Wealth Partners LLC boosted its position in shares of New York Times by 84,033.3% during the 4th quarter. TFO Wealth Partners LLC now owns 2,524 shares of the company’s stock worth $124,000 after acquiring an additional 2,521 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of New York Times by 15.9% during the 4th quarter. Quadrant Capital Group LLC now owns 3,289 shares of the company’s stock worth $161,000 after acquiring an additional 451 shares in the last quarter. Finally, Boston Family Office LLC acquired a new position in shares of New York Times during the 4th quarter worth about $206,000. 95.37% of the stock is 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.