New York Times (NYSE:NYT) Price Target Raised to $66.00

New York Times (NYSE:NYT) had its target price boosted by Deutsche Bank Aktiengesellschaft from $65.00 to $66.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

NYT has been the topic of several other research reports. Barclays upped their target price on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of New York Times from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.43.

New York Times Stock Up 1.1 %

NYSE:NYT traded up $0.62 during mid-day trading on Tuesday, reaching $56.42. 148,997 shares of the stock were exchanged, compared to its average volume of 1,108,225. The stock has a market capitalization of $9.27 billion, a P/E ratio of 33.01 and a beta of 1.02. The company has a 50 day simple moving average of $54.79 and a 200-day simple moving average of $52.20. New York Times has a 1 year low of $41.55 and a 1 year high of $57.08.

New York Times (NYSE:NYT) last announced its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.04. New York Times had a net margin of 11.04% and a return on equity of 17.95%. The business had revenue of $640.20 million during the quarter, compared to the consensus estimate of $641.00 million. During the same quarter in the prior year, the firm earned $0.37 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts predict that New York Times will post 1.83 EPS for the current year.

New York Times Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, October 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.92%. New York Times’s dividend payout ratio (DPR) is 30.77%.

Insider Activity at New York Times

In related news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 101,772 shares in the company, valued at approximately $5,487,546.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On New York Times

A number of institutional investors and hedge funds have recently bought and sold shares of NYT. Commonwealth Equity Services LLC increased its position in New York Times by 3.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 17,222 shares of the company’s stock valued at $744,000 after acquiring an additional 527 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of New York Times by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 143,204 shares of the company’s stock valued at $6,189,000 after purchasing an additional 1,854 shares during the period. Duality Advisers LP acquired a new position in New York Times during the first quarter worth $983,000. Quantbot Technologies LP bought a new position in New York Times in the first quarter valued at approximately $2,293,000. Finally, Swiss National Bank lifted its position in shares of New York Times by 0.3% in the first quarter. Swiss National Bank now owns 307,000 shares of the company’s stock valued at $13,269,000 after buying an additional 800 shares during the last quarter. Institutional investors 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.