BlackRock Inc. boosted its position in Sothebys (NYSE:BID) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,921,869 shares of the specialty retailer’s stock after buying an additional 50,971 shares during the quarter. BlackRock Inc. owned approximately 7.47% of Sothebys worth $202,368,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. RWC Asset Management LLP boosted its holdings in Sothebys by 22.5% in the 3rd quarter. RWC Asset Management LLP now owns 657,256 shares of the specialty retailer’s stock valued at $30,306,000 after purchasing an additional 120,655 shares during the period. Ameriprise Financial Inc. boosted its holdings in Sothebys by 22.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 344,247 shares of the specialty retailer’s stock valued at $15,874,000 after purchasing an additional 62,185 shares during the period. SG Americas Securities LLC boosted its holdings in Sothebys by 36.6% in the 3rd quarter. SG Americas Securities LLC now owns 123,060 shares of the specialty retailer’s stock valued at $5,674,000 after purchasing an additional 32,989 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Sothebys by 57.8% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,273,438 shares of the specialty retailer’s stock valued at $65,709,000 after purchasing an additional 466,195 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Sothebys by 145.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 118,780 shares of the specialty retailer’s stock valued at $5,493,000 after purchasing an additional 70,359 shares during the period. Institutional investors and hedge funds own 90.03% of the company’s stock.
A number of analysts have weighed in on the stock. Cowen reissued a “buy” rating and issued a $63.00 price target on shares of Sothebys in a report on Friday, March 2nd. Zacks Investment Research raised shares of Sothebys from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Sothebys currently has an average rating of “Buy” and a consensus price target of $61.00.
Shares of Sothebys (NYSE BID) opened at $53.31 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 1.38. Sothebys has a 1-year low of $42.78 and a 1-year high of $57.95. The firm has a market cap of $2,784.63, a price-to-earnings ratio of 24.24 and a beta of 1.86.
Sothebys (NYSE:BID) last issued its quarterly earnings results on Thursday, March 1st. The specialty retailer reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.07. Sothebys had a net margin of 12.01% and a return on equity of 22.31%. The firm had revenue of $315.56 million during the quarter, compared to the consensus estimate of $306.70 million. During the same period in the prior year, the firm earned $1.35 EPS. The business’s revenue was up 2.2% on a year-over-year basis. equities research analysts predict that Sothebys will post 2.51 earnings per share for the current year.
Sothebys declared that its board has approved a share repurchase program on Thursday, March 1st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the specialty retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
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Sotheby’s is a global art business company. The Company is engaged in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby’s Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong.
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