New York Times Co (NYSE:NYT) reached a new 52-week high during trading on Tuesday . The company traded as high as $31.85 and last traded at $31.77, with a volume of 1566874 shares changing hands. The stock had previously closed at $31.25.
A number of equities research analysts have commented on the company. ValuEngine raised New York Times from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Zacks Investment Research upgraded New York Times from a “sell” rating to a “hold” rating in a research report on Tuesday, December 11th. Barclays downgraded New York Times from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $20.00 to $18.00 in a research report on Tuesday, November 6th. They noted that the move was a valuation call. Finally, Evercore ISI started coverage on New York Times in a research report on Thursday, December 13th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. New York Times currently has an average rating of “Buy” and an average price target of $25.33.
The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 39.42 and a beta of 1.24. The company has a current ratio of 1.94, a quick ratio of 1.94 and a debt-to-equity ratio of 0.24.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 3rd will be paid a $0.05 dividend. This is a boost from New York Times’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, April 2nd. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. New York Times’s dividend payout ratio is presently 19.75%.
In other news, CEO Mark Thompson sold 40,000 shares of the company’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $25.90, for a total value of $1,036,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of New York Times by 17.1% in the 2nd quarter. Bank of America Corp DE now owns 404,775 shares of the company’s stock valued at $10,484,000 after acquiring an additional 59,181 shares during the last quarter. FMR LLC grew its holdings in shares of New York Times by 1,576.2% during the second quarter. FMR LLC now owns 4,715,899 shares of the company’s stock worth $122,142,000 after buying an additional 4,434,550 shares in the last quarter. United Services Automobile Association grew its holdings in shares of New York Times by 12.3% during the second quarter. United Services Automobile Association now owns 28,049 shares of the company’s stock worth $726,000 after buying an additional 3,062 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of New York Times by 11.6% during the third quarter. Louisiana State Employees Retirement System now owns 38,600 shares of the company’s stock worth $894,000 after buying an additional 4,000 shares in the last quarter. Finally, Texas Permanent School Fund grew its holdings in shares of New York Times by 7.5% during the third quarter. Texas Permanent School Fund now owns 88,789 shares of the company’s stock worth $2,055,000 after buying an additional 6,193 shares in the last quarter. Institutional investors and hedge funds own 92.22% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “New York Times (NYT) Hits New 1-Year High at $31.85” was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://www.com-unik.info/2019/02/12/new-york-times-nyt-hits-new-1-year-high-at-31-85.html.
About New York Times (NYSE:NYT)
The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company provides The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.
Further Reading: How does a reverse stock split work?
Receive News & Ratings for New York Times Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New York Times and related companies with MarketBeat.com's FREE daily email newsletter.