New York Times (NYSE:NYT) Hits New 12-Month High – Still a Buy?

by · The Cerbat Gem

The New York Times Company (NYSE:NYT – Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $56.64 and last traded at $56.31, with a volume of 100524 shares changing hands. The stock had previously closed at $56.02.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of New York Times from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of New York Times in a research note on Wednesday, October 9th. They set a “buy” rating and a $65.00 price target for the company. Finally, Barclays increased their price target on shares of New York Times from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, New York Times has an average rating of “Moderate Buy” and an average price target of $52.71.

Read Our Latest Stock Analysis on NYT

New York Times Trading Down 0.1 %

The company has a market cap of $9.17 billion, a price-to-earnings ratio of 34.48 and a beta of 1.03. The company’s 50 day moving average price is $54.80 and its 200 day moving average price is $51.75.

New York Times (NYSE:NYT – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 10.81% and a return on equity of 17.45%. The company had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $624.82 million. During the same quarter last year, the business earned $0.38 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts predict that The New York Times Company will post 1.83 earnings per share for the current year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Wednesday, October 9th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.93%. New York Times’s dividend payout ratio is presently 32.10%.

Insider Activity

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

Hedge Funds Weigh In On New York Times

Several hedge funds have recently added to or reduced their stakes in the business. AIA Group Ltd increased its holdings in New York Times by 11.8% during the 3rd quarter. AIA Group Ltd now owns 90,535 shares of the company’s stock valued at $5,040,000 after acquiring an additional 9,524 shares in the last quarter. Summit Global Investments purchased a new position in New York Times during the 3rd quarter valued at about $220,000. Hixon Zuercher LLC increased its holdings in New York Times by 2.9% during the 3rd quarter. Hixon Zuercher LLC now owns 12,496 shares of the company’s stock valued at $696,000 after acquiring an additional 354 shares in the last quarter. Moloney Securities Asset Management LLC increased its holdings in New York Times by 2.4% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 18,696 shares of the company’s stock valued at $1,041,000 after acquiring an additional 434 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in New York Times by 166.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 79,807 shares of the company’s stock valued at $4,443,000 after acquiring an additional 49,890 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Company Profile

(Get Free Report)

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.

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