New York Times (NYSE:NYT) Sets New 52-Week High at $52.58

The New York Times Company (NYSE:NYT - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $52.58 and last traded at $52.51, with a volume of 90712 shares changing hands. The stock had previously closed at $52.27.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Evercore ISI raised their price objective on shares of New York Times from $50.00 to $53.00 and gave the company an "outperform" rating in a research note on Thursday, May 9th. Citigroup started coverage on shares of New York Times in a research report on Tuesday, March 12th. They set a "buy" rating and a $52.00 price target on the stock. Finally, StockNews.com raised shares of New York Times from a "hold" rating to a "buy" rating in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, New York Times has a consensus rating of "Moderate Buy" and an average price target of $46.71.

New York Times Price Performance

The business's fifty day moving average is $49.28 and its 200-day moving average is $46.57. The firm has a market cap of $8.55 billion, a PE ratio of 34.67 and a beta of 1.06.

New York Times (NYSE:NYT - Get Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.11. The firm had revenue of $594.00 million during the quarter, compared to the consensus estimate of $591.97 million. New York Times had a net margin of 10.19% and a return on equity of 17.33%. The company's revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. Analysts forecast that The New York Times Company will post 1.77 EPS for the current year.

New York Times Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $0.52 annualized dividend and a yield of 1.00%. New York Times's dividend payout ratio is currently 34.67%.

Insider Activity at New York Times

In related news, CAO R Anthony Benten sold 5,171 shares of the business's stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $48.98, for a total transaction of $253,275.58. Following the completion of the transaction, the chief accounting officer now owns 38,576 shares of the company's stock, valued at $1,889,452.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other New York Times news, CEO Levien Meredith A. Kopit sold 12,548 shares of New York Times stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $47.72, for a total transaction of $598,790.56. Following the completion of the sale, the chief executive officer now directly owns 120,072 shares in the company, valued at $5,729,835.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO R Anthony Benten sold 5,171 shares of New York Times stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $48.98, for a total transaction of $253,275.58. Following the sale, the chief accounting officer now owns 38,576 shares of the company's stock, valued at $1,889,452.48. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On New York Times

A number of hedge funds have recently made changes to their positions in NYT. Norges Bank bought a new stake in shares of New York Times in the 4th quarter worth approximately $89,754,000. Farallon Capital Management LLC lifted its holdings in shares of New York Times by 18.1% in the 1st quarter. Farallon Capital Management LLC now owns 11,188,059 shares of the company's stock worth $483,548,000 after acquiring an additional 1,711,268 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of New York Times in the 1st quarter worth approximately $42,434,000. Franklin Resources Inc. lifted its holdings in shares of New York Times by 15.7% in the 4th quarter. Franklin Resources Inc. now owns 2,997,420 shares of the company's stock worth $146,844,000 after acquiring an additional 406,958 shares during the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of New York Times in the 4th quarter worth approximately $18,255,000. 95.37% of the stock is currently owned by institutional investors.

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.