JPMorgan Chase & Co. Increases New York Times (NYSE:NYT) Price Target to $62.00

New York Times (NYSE:NYT) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $58.00 to $62.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 16.65% from the company’s current price.

Several other research analysts also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on New York Times from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays upped their price target on New York Times from $40.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, New York Times has an average rating of “Moderate Buy” and a consensus target price of $53.43.

New York Times Trading Up 1.3 %

NYT traded up $0.70 on Tuesday, hitting $53.15. 417,644 shares of the stock traded hands, compared to its average volume of 1,098,828. The business has a fifty day moving average price of $54.78 and a two-hundred day moving average price of $52.07. The firm has a market capitalization of $8.73 billion, a PE ratio of 32.81 and a beta of 1.02. New York Times has a 52 week low of $41.02 and a 52 week high of $57.08.

New York Times (NYSE:NYT) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. The company had revenue of $640.20 million during the quarter, compared to analysts’ expectations of $641.00 million. New York Times had a return on equity of 17.45% and a net margin of 10.81%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $0.37 earnings per share. On average, equities research analysts forecast that New York Times will post 1.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $53.92, for a total value of $986,736.00. Following the sale, the chief executive officer now directly owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Levien Meredith A. Kopit sold 18,300 shares of New York Times stock in a transaction on Monday, August 12th. The stock was sold at an average price of $53.92, for a total transaction of $986,736.00. Following the completion of the sale, the chief executive officer now owns 101,772 shares of the company’s stock, valued at approximately $5,487,546.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William Bardeen sold 2,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $54.56, for a total transaction of $109,120.00. Following the transaction, the chief financial officer now owns 10,315 shares in the company, valued at approximately $562,786.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. lifted its stake in New York Times by 356.4% in the third quarter. UMB Bank n.a. now owns 461 shares of the company’s stock valued at $26,000 after buying an additional 360 shares during the period. GAMMA Investing LLC boosted its stake in New York Times by 129.4% during the second quarter. GAMMA Investing LLC now owns 1,404 shares of the company’s stock worth $72,000 after acquiring an additional 792 shares in the last quarter. Signaturefd LLC grew its holdings in New York Times by 34.2% in the second quarter. Signaturefd LLC now owns 1,694 shares of the company’s stock worth $87,000 after purchasing an additional 432 shares during the period. Blue Trust Inc. increased its stake in New York Times by 401.8% in the second quarter. Blue Trust Inc. now owns 2,248 shares of the company’s stock valued at $115,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Paladin Wealth LLC acquired a new position in shares of New York Times during the third quarter valued at about $172,000. Institutional investors and hedge funds own 95.37% of the company’s stock.

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.