New York Times (NYSE:NYT) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

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

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

New York Times Price Performance

Shares of New York Times stock opened at $56.28 on Tuesday. The firm has a 50 day simple moving average of $54.81 and a 200 day simple moving average of $52.29. New York Times has a fifty-two week low of $41.55 and a fifty-two week high of $57.08. The firm has a market cap of $9.24 billion, a P/E ratio of 33.30 and a beta of 1.02.

New York Times (NYSE:NYT) last released its earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.41 by $0.04. New York Times had a return on equity of 17.75% and a net margin of 11.04%. The company had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. During the same period last year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts expect that New York Times will post 1.85 EPS for the current year.

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Wednesday, October 9th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Wednesday, October 9th. New York Times’s payout ratio is 30.77%.

Insider Buying and Selling at New York Times

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction on Monday, August 12th. The shares were sold at an average price of $53.92, for a total transaction of $986,736.00. Following the transaction, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On New York Times

A number of hedge funds have recently modified their holdings of NYT. Oak Family Advisors LLC raised its holdings in New York Times by 2.2% during the 2nd quarter. Oak Family Advisors LLC now owns 10,685 shares of the company’s stock worth $547,000 after buying an additional 231 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of New York Times by 2.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 11,867 shares of the company’s stock worth $608,000 after acquiring an additional 247 shares in the last quarter. KBC Group NV raised its holdings in shares of New York Times by 0.4% during the third quarter. KBC Group NV now owns 75,917 shares of the company’s stock worth $4,226,000 after acquiring an additional 308 shares during the period. Hixon Zuercher LLC lifted its position in New York Times by 2.9% in 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. Finally, UMB Bank n.a. boosted its stake in New York Times by 356.4% in the 3rd quarter. UMB Bank n.a. now owns 461 shares of the company’s stock worth $26,000 after purchasing an additional 360 shares during the period. Institutional investors and hedge funds 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.