The New York Times Company (NYSE:NYT) CAO R Anthony Benten Sells 5,171 Shares of Stock

The New York Times Company (NYSE:NYT) CAO R Anthony Benten sold 5,171 shares of New York Times stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $48.98, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

New York Times Stock Performance

Shares of New York Times stock opened at $49.26 on Friday. The firm has a 50-day moving average of $44.64 and a 200-day moving average of $45.45. The New York Times Company has a 52-week low of $35.06 and a 52-week high of $50.26. The stock has a market cap of $8.09 billion, a PE ratio of 32.84 and a beta of 1.00.

New York Times (NYSE:NYT) last posted its quarterly earnings data 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 firm had revenue of $594.00 million during the quarter, compared to the consensus estimate of $591.97 million. New York Times had a net margin of 10.19% and a return on equity of 17.33%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. Equities research analysts predict that The New York Times Company will post 1.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NYT. Vanguard Group Inc. grew its stake in New York Times by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 15,809,453 shares of the company’s stock worth $774,505,000 after buying an additional 80,075 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of New York Times by 15.7% during 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 bought a new position in New York Times in the fourth quarter valued at approximately $89,754,000. Charles Schwab Investment Management Inc. raised its position in New York Times by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,800,927 shares of the company’s stock valued at $88,227,000 after purchasing an additional 31,213 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in New York Times by 3.2% during the third quarter. Northern Trust Corp now owns 1,478,661 shares of the company’s stock worth $60,921,000 after purchasing an additional 45,677 shares during the last quarter. Institutional investors and hedge funds 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.