New York Times (NYT) Upgraded at ValuEngine
ValuEngine upgraded shares of New York Times (NYSE:NYT) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.
Several other equities research analysts have also commented on the stock. Zacks Investment Research upgraded shares of New York Times from a hold rating to a buy rating and set a $20.00 target price on the stock in a research report on Friday, November 3rd. Barclays set a $20.00 target price on shares of New York Times and gave the stock a hold rating in a research report on Sunday, February 11th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company. New York Times presently has an average rating of Hold and a consensus target price of $21.33.
Shares of New York Times (NYSE NYT) opened at $24.60 on Thursday. The company has a market cap of $4,054.57, a price-to-earnings ratio of 1,230.00, a price-to-earnings-growth ratio of 2.18 and a beta of 1.74. New York Times has a 1 year low of $14.08 and a 1 year high of $25.70. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.80 and a current ratio of 1.80.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Wednesday, April 4th will be given a dividend of $0.04 per share. The ex-dividend date is Tuesday, April 3rd. This represents a $0.16 annualized dividend and a dividend yield of 0.65%. New York Times’s payout ratio is currently 800.00%.
In related news, CFO James M. Follo sold 110,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $24.02, for a total value of $2,642,200.00. Following the sale, the chief financial officer now directly owns 194,523 shares in the company, valued at approximately $4,672,442.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Carso S.A. De C.V. Inversora sold 90,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $24.13, for a total transaction of $2,171,700.00. The disclosure for this sale can be found here. Insiders sold a total of 328,289 shares of company stock worth $8,045,990 over the last quarter. Insiders own 5.70% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of New York Times by 37.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,622 shares of the company’s stock worth $160,000 after buying an additional 2,333 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of New York Times in the 3rd quarter worth about $192,000. Elkfork Partners LLC boosted its position in shares of New York Times by 143.1% in the 4th quarter. Elkfork Partners LLC now owns 9,840 shares of the company’s stock worth $182,000 after buying an additional 5,792 shares in the last quarter. HL Financial Services LLC purchased a new stake in shares of New York Times in the 4th quarter worth about $185,000. Finally, Bluestein R H & Co. purchased a new stake in shares of New York Times in the 4th quarter worth about $185,000. Institutional investors and hedge funds own 72.55% of the company’s stock.
About New York Times
The New York Times Company is a media company focused on creating, collecting and distributing news and information. The Company’s principal business consists of distributing content generated by its newsroom through its print, Web and mobile platforms. In addition, it distributes selected content on third-party platforms.
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