Brokerages Set The New York Times Company (NYSE:NYT) PT at $56.40

The New York Times Company (NYSE:NYT - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six research firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $56.40.

A number of equities research analysts have recently commented on the stock. Guggenheim increased their target price on shares of New York Times from $53.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, June 2nd. Wall Street Zen upgraded shares of New York Times from a "hold" rating to a "buy" rating in a research report on Friday, April 11th. Finally, Citigroup reiterated a "buy" rating on shares of New York Times in a research report on Thursday, June 12th.

New York Times Stock Performance

Shares of NYT traded up $0.43 during trading hours on Friday, hitting $54.48. The stock had a trading volume of 1,764,444 shares, compared to its average volume of 1,385,772. The firm has a 50-day moving average price of $53.61 and a 200 day moving average price of $51.76. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 1.89 and a beta of 1.13. New York Times has a fifty-two week low of $44.83 and a fifty-two week high of $58.16.

New York Times (NYSE:NYT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. The company had revenue of $635.91 million during the quarter, compared to analysts' expectations of $634.99 million. New York Times had a net margin of 11.53% and a return on equity of 18.70%. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. As a group, analysts predict that New York Times will post 2.08 EPS for the current fiscal year.

Insider Activity at New York Times

In related news, CAO R Anthony Benten sold 1,990 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $56.75, for a total value of $112,932.50. Following the completion of the sale, the chief accounting officer now owns 39,685 shares of the company's stock, valued at approximately $2,252,123.75. This represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP William Bardeen sold 2,500 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $56.83, for a total transaction of $142,075.00. Following the transaction, the executive vice president now directly owns 16,727 shares of the company's stock, valued at approximately $950,595.41. This trade represents a 13.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,490 shares of company stock valued at $479,728. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Brown Financial Advisors boosted its stake in New York Times by 2.3% during the fourth quarter. Brown Financial Advisors now owns 8,996 shares of the company's stock worth $468,000 after buying an additional 200 shares during the period. Covestor Ltd lifted its position in shares of New York Times by 7.9% during the first quarter. Covestor Ltd now owns 2,849 shares of the company's stock worth $141,000 after purchasing an additional 208 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of New York Times by 12.6% during the fourth quarter. Bessemer Group Inc. now owns 1,895 shares of the company's stock worth $99,000 after purchasing an additional 212 shares in the last quarter. IFP Advisors Inc lifted its position in shares of New York Times by 0.7% during the fourth quarter. IFP Advisors Inc now owns 34,368 shares of the company's stock worth $1,789,000 after purchasing an additional 224 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of New York Times by 1.2% during the fourth quarter. Natixis Advisors LLC now owns 19,187 shares of the company's stock worth $999,000 after purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 95.37% of the company's stock.

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.