Sothebys (BID) Holdings Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its holdings in Sothebys (NYSE:BID) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,389,388 shares of the specialty retailer’s stock after buying an additional 5,850 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.68% of Sothebys worth $75,499,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BID. UBS Group AG grew its holdings in shares of Sothebys by 50.1% during the 1st quarter. UBS Group AG now owns 2,878 shares of the specialty retailer’s stock worth $147,000 after purchasing an additional 961 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Sothebys during the 2nd quarter worth about $176,000. Point72 Asia Hong Kong Ltd purchased a new stake in shares of Sothebys during the 1st quarter worth about $246,000. Envestnet Asset Management Inc. grew its holdings in shares of Sothebys by 21.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,194 shares of the specialty retailer’s stock worth $267,000 after purchasing an additional 914 shares during the period. Finally, North Star Investment Management Corp. purchased a new stake in shares of Sothebys during the 2nd quarter worth about $268,000. Institutional investors own 87.88% of the company’s stock.

A number of brokerages have recently issued reports on BID. ValuEngine upgraded Sothebys from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Sidoti cut Sothebys from a “buy” rating to a “neutral” rating in a report on Tuesday, June 12th. Finally, Zacks Investment Research cut Sothebys from a “buy” rating to a “hold” rating in a report on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $63.33.

NYSE BID opened at $48.64 on Monday. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 22.01 and a beta of 1.68. Sothebys has a fifty-two week low of $43.85 and a fifty-two week high of $60.16. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.23 and a quick ratio of 1.21.

Sothebys (NYSE:BID) last released its quarterly earnings results on Monday, August 6th. The specialty retailer reported $1.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.46). The company had revenue of $345.60 million during the quarter, compared to analysts’ expectations of $330.28 million. Sothebys had a return on equity of 20.32% and a net margin of 10.11%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.43 EPS. sell-side analysts forecast that Sothebys will post 2.24 earnings per share for the current fiscal year.

Sothebys Profile

Sotheby's operates as an auctioneer of authenticated fine art, decorative art, jewelry, wine, and collectibles in the United States, the United Kingdom, Hong Kong, China, Switzerland, France, and internationally. The company operates in two segments, Agency and Finance. The Agency segment accepts property on consignment; and matches sellers to buyers through the auction or private sale process.

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Institutional Ownership by Quarter for Sothebys (NYSE:BID)

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