New York Times (NYSE:NYT) Hits New 1-Year High at $51.98

The New York Times Company (NYSE:NYT)’s stock price hit a new 52-week high on Monday . The company traded as high as $51.98 and last traded at $51.11, with a volume of 228740 shares. The stock had previously closed at $51.21.

Analyst Upgrades and Downgrades

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

New York Times Trading Up 1.1 %

The stock’s 50-day moving average is $48.74 and its 200-day moving average is $46.44. The stock has a market cap of $8.54 billion, a P/E ratio of 34.67 and a beta of 1.06.

New York Times (NYSE:NYT) last announced its 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 firm had revenue of $594.00 million during the quarter, compared to analyst estimates of $591.97 million. New York Times had a net margin of 10.19% and a return on equity of 17.33%. New York Times’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 EPS. On average, equities analysts forecast that The New York Times Company will post 1.77 EPS for the current year.

New York Times Announces Dividend

The firm also recently disclosed 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 1.00%. New York Times’s dividend payout ratio (DPR) is 34.67%.

Insider Activity

In other news, CEO Levien Meredith A. Kopit sold 12,548 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $47.72, for a total transaction of $598,790.56. Following the completion of the transaction, the chief executive officer now owns 120,072 shares in the company, valued at approximately $5,729,835.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other New York Times news, CAO R Anthony Benten sold 5,171 shares of the company’s stock in a transaction dated 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 directly owns 38,576 shares of the company’s stock, valued at $1,889,452.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Levien Meredith A. Kopit sold 12,548 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $47.72, for a total transaction of $598,790.56. Following the sale, the chief executive officer now directly owns 120,072 shares of the company’s stock, valued at $5,729,835.84. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Trading of New York Times

A number of hedge funds have recently bought and sold shares of NYT. Norges Bank purchased a new stake in New York Times during the fourth quarter valued at about $89,754,000. Farallon Capital Management LLC lifted its position in shares of 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 purchasing an additional 1,711,268 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of New York Times in the first quarter worth approximately $42,434,000. Franklin Resources Inc. lifted its position in shares of New York Times by 15.7% in the fourth quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company’s stock worth $146,844,000 after purchasing an additional 406,958 shares in the last quarter. Finally, Junto Capital Management LP purchased a new stake in shares of New York Times in the fourth quarter worth approximately $18,255,000. 95.37% of the stock is owned by hedge funds and other institutional investors.

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.