New York Times (NYT) Sets New 12-Month High at $26.91

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Shares of New York Times Co (NYSE:NYT) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $26.91 and last traded at $26.83, with a volume of 4401718 shares trading hands. The stock had previously closed at $26.53.

A number of research firms have recently issued reports on NYT. JPMorgan Chase & Co. boosted their price objective on New York Times to $32.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. ValuEngine upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Finally, Zacks Investment Research cut New York Times from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.00.

The stock has a market cap of $4.37 billion, a PE ratio of 33.54, a P/E/G ratio of 1.48 and a beta of 1.54. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.26.

New York Times (NYSE:NYT) last released its quarterly earnings data on Wednesday, August 8th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. New York Times had a return on equity of 15.00% and a net margin of 1.24%. The business had revenue of $414.60 million for the quarter, compared to analysts’ expectations of $411.25 million. During the same period in the previous year, the business posted $0.18 earnings per share. New York Times’s quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts forecast that New York Times Co will post 0.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Shareholders of record on Wednesday, October 3rd were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Tuesday, October 2nd. New York Times’s dividend payout ratio (DPR) is 20.00%.

In other New York Times news, insider Carso S.A. De C.V. Inversora sold 150,000 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $24.48, for a total value of $3,672,000.00. Following the sale, the insider now directly owns 8,396,975 shares in the company, valued at $205,557,948. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur Sulzberger, Jr. sold 34,000 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $23.73, for a total value of $806,820.00. Following the completion of the sale, the director now owns 279,307 shares in the company, valued at $6,627,955.11. The disclosure for this sale can be found here. Insiders sold 342,154 shares of company stock worth $8,110,129 over the last quarter. Company insiders own 5.20% of the company’s stock.

A number of large investors have recently made changes to their positions in NYT. Texas Permanent School Fund boosted its stake in New York Times by 7.5% in the third quarter. Texas Permanent School Fund now owns 88,789 shares of the company’s stock worth $2,055,000 after purchasing an additional 6,193 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in New York Times by 11.6% in the third quarter. Louisiana State Employees Retirement System now owns 38,600 shares of the company’s stock worth $894,000 after purchasing an additional 4,000 shares in the last quarter. Weybosset Research & Management LLC boosted its stake in New York Times by 4.2% in the third quarter. Weybosset Research & Management LLC now owns 203,215 shares of the company’s stock worth $4,704,000 after purchasing an additional 8,215 shares in the last quarter. United Services Automobile Association boosted its stake in New York Times by 12.3% in the second quarter. United Services Automobile Association now owns 28,049 shares of the company’s stock worth $726,000 after purchasing an additional 3,062 shares in the last quarter. Finally, Royal London Asset Management Ltd. acquired a new position in New York Times in the second quarter worth $799,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.

New York Times Company Profile (NYSE:NYT)

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company provides The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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