Analysts Set The New York Times Company (NYSE:NYT) Price Target at $54.71

Shares of The New York Times Company (NYSE:NYT) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $54.71.

A number of research firms have recently commented on NYT. JPMorgan Chase & Co. lifted their target price on New York Times from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley cut their price target on New York Times from $56.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. StockNews.com upgraded New York Times from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

Hedge Funds Weigh In On New York Times

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of New York Times by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 15,800,348 shares of the company’s stock worth $822,408,000 after buying an additional 63,856 shares in the last quarter. Wellington Management Group LLP raised its position in New York Times by 2.0% in the third quarter. Wellington Management Group LLP now owns 6,074,514 shares of the company’s stock worth $338,168,000 after acquiring an additional 118,479 shares in the last quarter. Darsana Capital Partners LP lifted its holdings in New York Times by 15.0% in the fourth quarter. Darsana Capital Partners LP now owns 5,750,000 shares of the company’s stock valued at $299,288,000 after acquiring an additional 750,000 shares during the period. State Street Corp lifted its holdings in New York Times by 0.7% in the third quarter. State Street Corp now owns 4,785,844 shares of the company’s stock valued at $266,428,000 after acquiring an additional 32,905 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of New York Times by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 4,035,335 shares of the company’s stock worth $210,084,000 after purchasing an additional 102,519 shares in the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.

New York Times Stock Down 1.6 %

Shares of NYT opened at $47.99 on Monday. New York Times has a 52-week low of $41.55 and a 52-week high of $58.16. The stock has a 50 day moving average price of $52.22 and a 200 day moving average price of $53.76. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 1.77 and a beta of 1.01.

New York Times (NYSE:NYT) last posted its earnings results on Wednesday, February 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. New York Times had a net margin of 11.36% and a return on equity of 18.51%. On average, equities analysts anticipate that New York Times will post 2.08 EPS for the current fiscal year.

New York Times Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Tuesday, April 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a boost from New York Times’s previous quarterly dividend of $0.13. New York Times’s dividend payout ratio is 29.21%.

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.