Deutsche Bank Aktiengesellschaft Begins Coverage on New York Times (NYSE:NYT)

Research analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of New York Times (NYSE:NYT) in a note issued to investors on Wednesday, Benzinga reports. The brokerage set a “buy” rating and a $65.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 18.38% from the stock’s previous close.

A number of other brokerages also recently commented on NYT. Barclays increased their price target on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.71.

New York Times Price Performance

NYT opened at $54.91 on Wednesday. New York Times has a 1 year low of $39.73 and a 1 year high of $56.49. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 36.61 and a beta of 1.03. The firm’s fifty day moving average price is $54.25 and its two-hundred day moving average price is $50.35.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. The business had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $624.82 million. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, equities analysts anticipate that New York Times will post 1.9 EPS for the current year.

Insider Activity at New York Times

In other news, CFO William Bardeen sold 2,000 shares of New York Times stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $54.56, for a total value of $109,120.00. Following the completion of the transaction, the chief financial officer now owns 10,315 shares in the company, valued at $562,786.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the sale, the chief executive officer now directly owns 101,772 shares in the company, valued at approximately $5,487,546.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO William Bardeen sold 2,000 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the completion of the sale, the chief financial officer now directly owns 10,315 shares in the company, valued at approximately $562,786.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted 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 valued at $774,505,000 after buying an additional 80,075 shares during the period. Farallon Capital Management LLC raised its holdings in shares of New York Times by 18.1% in the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company’s stock valued at $483,548,000 after acquiring an additional 1,711,268 shares in the last quarter. Darsana Capital Partners LP boosted its position in shares of New York Times by 25.0% during the 2nd quarter. Darsana Capital Partners LP now owns 6,250,000 shares of the company’s stock valued at $320,062,000 after acquiring an additional 1,250,000 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of New York Times by 19.8% during the second quarter. Renaissance Technologies LLC now owns 2,912,142 shares of the company’s stock worth $149,131,000 after purchasing an additional 482,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of New York Times by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,424,700 shares of the company’s stock worth $124,164,000 after purchasing an additional 438,680 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

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.