Doreen A. Toben Sells 8,000 Shares of New York Times Co (NYT) Stock

New York Times Co (NYSE:NYT) Director Doreen A. Toben sold 8,000 shares of New York Times stock in a transaction on Monday, February 12th. The stock was sold at an average price of $23.99, for a total transaction of $191,920.00. Following the sale, the director now owns 25,342 shares of the company’s stock, valued at $607,954.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

New York Times Co (NYT) traded up $0.60 during trading hours on Wednesday, hitting $24.75. 2,588,837 shares of the stock traded hands, compared to its average volume of 2,836,044. New York Times Co has a 1-year low of $14.08 and a 1-year high of $25.70. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4,050.00, a P/E ratio of 825.00, a P/E/G ratio of 2.13 and a beta of 1.85.

New York Times (NYSE:NYT) last posted its earnings results on Thursday, February 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.09. The company had revenue of $484.00 million during the quarter, compared to the consensus estimate of $467.30 million. New York Times had a net margin of 0.26% and a return on equity of 14.89%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share. research analysts forecast that New York Times Co will post 0.87 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Wednesday, January 10th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, January 9th. This represents a $0.16 dividend on an annualized basis and a yield of 0.65%. New York Times’s dividend payout ratio is presently 533.33%.

NYT has been the subject of several research reports. Zacks Investment Research upgraded shares of New York Times from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, November 3rd. ValuEngine downgraded shares of New York Times from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Barclays set a $20.00 price objective on shares of New York Times and gave the stock a “hold” rating in a research note on Sunday. Four analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $21.33.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in New York Times by 6.9% during the second quarter. PNC Financial Services Group Inc. now owns 6,635 shares of the company’s stock valued at $118,000 after purchasing an additional 429 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in New York Times by 37.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,622 shares of the company’s stock valued at $160,000 after purchasing an additional 2,333 shares during the period. HL Financial Services LLC acquired a new position in New York Times during the fourth quarter valued at $185,000. Bluestein R H & Co. acquired a new position in New York Times during the fourth quarter valued at $185,000. Finally, Fox Run Management L.L.C. acquired a new position in New York Times during the fourth quarter valued at $186,000. Institutional investors own 67.60% of the company’s stock.

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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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