Brokerages Set The New York Times Company (NYSE:NYT) Target Price at $45.67

The New York Times Company (NYSE:NYT) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $45.67.

A number of research firms have issued reports on NYT. StockNews.com upgraded shares of New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Citigroup started coverage on shares of New York Times in a report on Tuesday, March 12th. They issued a “buy” rating and a $52.00 price objective on the stock. Finally, Argus upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Monday, March 4th.

Insider Activity at New York Times

In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $44.11, for a total value of $597,381.73. Following the transaction, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Levien Meredith A. Kopit sold 13,543 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $44.11, for a total value of $597,381.73. Following the transaction, the chief executive officer now directly owns 90,759 shares of the company’s stock, valued at approximately $4,003,379.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Diane Brayton sold 7,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $42.84, for a total transaction of $299,880.00. Following the completion of the transaction, the executive vice president now directly owns 39,312 shares in the company, valued at $1,684,126.08. The disclosure for this sale can be found here. Insiders have sold 23,557 shares of company stock valued at $1,029,968 in the last ninety days. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in New York Times by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 15,809,453 shares of the company’s stock worth $774,505,000 after purchasing an additional 80,075 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of New York Times by 15.7% in the 4th quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company’s stock worth $146,844,000 after acquiring an additional 406,958 shares during the period. Norges Bank acquired a new stake in shares of New York Times in the 4th quarter worth $89,754,000. Charles Schwab Investment Management Inc. lifted its stake in shares of New York Times by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,800,927 shares of the company’s stock worth $88,227,000 after acquiring an additional 31,213 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of New York Times by 3.2% in the 3rd quarter. Northern Trust Corp now owns 1,478,661 shares of the company’s stock worth $60,921,000 after acquiring an additional 45,677 shares during the period. 95.37% of the stock is owned by hedge funds and other institutional investors.

New York Times Stock Down 0.2 %

New York Times stock opened at $43.17 on Tuesday. The firm has a market cap of $7.08 billion, a PE ratio of 31.06 and a beta of 1.01. New York Times has a 52-week low of $35.06 and a 52-week high of $49.87. The company’s 50 day moving average is $43.26 and its two-hundred day moving average is $44.76.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.10. The company had revenue of $676.20 million for the quarter, compared to analyst estimates of $680.02 million. New York Times had a net margin of 9.58% and a return on equity of 16.48%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS. On average, equities research analysts anticipate that New York Times will post 1.64 earnings per share for the current fiscal year.

New York Times Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, April 2nd were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from New York Times’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Monday, April 1st. New York Times’s dividend payout ratio (DPR) is 37.41%.

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.