New York Times (NYSE:NYT) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of New York Times (NYSE:NYT) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks.com reports.

NYT has been the topic of a number of other reports. Citigroup reiterated a “neutral” rating on shares of New York Times in a research note on Wednesday, June 24th. Bank of America cut their target price on New York Times from $87.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, June 24th. JPMorgan Chase & Co. lifted their target price on New York Times from $74.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, May 29th. UBS Group set a $80.00 price target on New York Times in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded New York Times from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.22.

New York Times Trading Down 2.8%

NYT opened at $72.97 on Monday. New York Times has a 12 month low of $51.03 and a 12 month high of $87.10. The company has a market cap of $11.81 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 1.55 and a beta of 0.96. The company has a 50 day moving average of $74.50 and a 200 day moving average of $75.86.

New York Times (NYSE:NYT) last issued its earnings results on Wednesday, May 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.12. The business had revenue of $712.24 million for the quarter, compared to analysts’ expectations of $699.93 million. New York Times had a net margin of 13.18% and a return on equity of 22.02%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 EPS. Research analysts forecast that New York Times will post 2.93 earnings per share for the current fiscal year.

New York Times Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 23rd. Investors of record on Wednesday, July 8th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, July 8th. New York Times’s dividend payout ratio (DPR) is 39.48%.

Insider Activity at New York Times

In related news, EVP Jacqueline M. Welch sold 4,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $74.14, for a total transaction of $296,560.00. Following the completion of the transaction, the executive vice president directly owned 23,873 shares in the company, valued at $1,769,944.22. The trade was a 14.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David S. Perpich sold 9,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $77.06, for a total value of $693,540.00. Following the completion of the transaction, the director owned 28,469 shares in the company, valued at $2,193,821.14. This represents a 24.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 17,121 shares of company stock valued at $1,310,920. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its stake in New York Times by 35.3% in the fourth quarter. AQR Capital Management LLC now owns 6,241,489 shares of the company’s stock valued at $433,284,000 after purchasing an additional 1,628,200 shares in the last quarter. Wellington Management Group LLP grew its stake in New York Times by 9.3% in the 4th quarter. Wellington Management Group LLP now owns 5,211,824 shares of the company’s stock worth $361,805,000 after buying an additional 441,851 shares in the last quarter. Berkshire Hathaway Inc purchased a new position in New York Times in the 4th quarter worth approximately $351,664,000. State Street Corp increased its holdings in shares of New York Times by 2.4% in the 4th quarter. State Street Corp now owns 5,027,198 shares of the company’s stock worth $348,988,000 after buying an additional 116,012 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of New York Times by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 3,922,565 shares of the company’s stock worth $272,347,000 after buying an additional 50,389 shares during the last quarter. Hedge funds and other institutional investors own 95.37% of the company’s stock.

New York Times News Roundup

Here are the key news stories impacting New York Times this week:

• Positive Sentiment: Zacks singled out NYT as a low-beta defensive stock that could attract investors seeking stability during periods of geopolitical ???? and market volatility. 4 Low-Beta Defensive Stocks to Buy as Geopolitical Tensions Escalate
• Positive Sentiment: An Invezz commentary said The New York Times Company (NYT) is not “failing” and suggested the stock may surge after its recent pullback, reinforcing a bullish case among some traders. New York Times is not “failing”: Here’s why its stock may surge soon
• Neutral Sentiment: Several recent New York Times headlines focused on politics, immigration, and global events, including Trump-related legal and policy coverage, which may support traffic but do not clearly signal an immediate earnings impact.
• Negative Sentiment: Broader market commentary noted NYT has retreated from its recent highs, reflecting profit-taking and a weak short-term price trend that may still weigh on the shares.

About New York Times

The New York Times Company is a publicly traded media organization best known for publishing The New York Times newspaper and operating the NYTimes.com digital platform. The company produces daily print and digital journalism covering national and international news, opinion pieces, feature stories, and multimedia content. Alongside its flagship newspaper, the firm offers a range of subscription-based services, including Times Cooking, NYT Games, podcasts and newsletters, designed to engage a broad audience of readers and advertisers.

Founded in 1851 by Henry Jarvis Raymond and George Jones, The New York Times has built a reputation for in-depth reporting and investigative journalism.