New York Times (NYSE:NYT) Hits New 52-Week High – Here’s What Happened

Shares of The New York Times Company (NYSE:NYT) reached a new 52-week high on Friday . The company traded as high as $65.14 and last traded at $64.6150, with a volume of 558479 shares. The stock had previously closed at $63.53.

Analysts Set New Price Targets

Several brokerages have issued reports on NYT. Morgan Stanley increased their price target on New York Times from $59.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. increased their target price on New York Times from $70.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Guggenheim lifted their price target on shares of New York Times from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. UBS Group set a $62.00 price objective on shares of New York Times in a report on Thursday, November 6th. Finally, Zacks Research lowered shares of New York Times from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.57.

New York Times Trading Up 0.9%

The business has a 50-day moving average of $58.29 and a 200 day moving average of $56.91. The firm has a market capitalization of $10.40 billion, a PE ratio of 33.03, a price-to-earnings-growth ratio of 1.41 and a beta of 1.14.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, November 5th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.05. The firm had revenue of $700.82 million during the quarter, compared to analyst estimates of $692.01 million. New York Times had a net margin of 11.92% and a return on equity of 19.55%. The business’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS. On average, sell-side analysts expect that The New York Times Company will post 2.08 EPS for the current fiscal year.

New York Times Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 23rd. Shareholders of record on Wednesday, October 8th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, October 8th. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. New York Times’s dividend payout ratio (DPR) is currently 35.12%.

Insider Buying and Selling at New York Times

In other news, EVP Jacqueline M. Welch sold 5,500 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $60.04, for a total value of $330,220.00. Following the completion of the transaction, the executive vice president directly owned 14,470 shares of the company’s stock, valued at $868,778.80. This represents a 27.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caerus Investment Advisors LLC bought a new stake in shares of New York Times during the 3rd quarter worth $413,000. Captrust Financial Advisors increased its holdings in New York Times by 31.6% during the third quarter. Captrust Financial Advisors now owns 26,307 shares of the company’s stock worth $1,510,000 after buying an additional 6,322 shares during the last quarter. Danske Bank A S bought a new stake in New York Times in the third quarter worth about $1,436,000. Caitong International Asset Management Co. Ltd boosted its stake in New York Times by 4,425.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,851 shares of the company’s stock valued at $164,000 after acquiring an additional 2,788 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in shares of New York Times by 23.6% during the 3rd quarter. Advisory Services Network LLC now owns 6,190 shares of the company’s stock valued at $355,000 after acquiring an additional 1,180 shares during the period. Hedge funds and other institutional investors own 95.37% of the company’s stock.

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.