Northwestern Mutual Investment Management Company LLC reduced its holdings in shares of Sothebys (NYSE:BID) by 11.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,854 shares of the specialty retailer’s stock after selling 725 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Sothebys were worth $221,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in BID. JPMorgan Chase & Co. grew its stake in Sothebys by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 35,479 shares of the specialty retailer’s stock worth $1,746,000 after buying an additional 2,034 shares during the period. KBC Group NV grew its stake in Sothebys by 38.4% during the fourth quarter. KBC Group NV now owns 8,747 shares of the specialty retailer’s stock worth $348,000 after buying an additional 2,428 shares during the period. Xact Kapitalforvaltning AB grew its stake in Sothebys by 20.5% during the fourth quarter. Xact Kapitalforvaltning AB now owns 7,630 shares of the specialty retailer’s stock worth $303,000 after buying an additional 1,300 shares during the period. Rhumbline Advisers grew its stake in Sothebys by 45.4% during the fourth quarter. Rhumbline Advisers now owns 110,918 shares of the specialty retailer’s stock worth $4,408,000 after buying an additional 34,625 shares during the period. Finally, Dupont Capital Management Corp purchased a new stake in Sothebys during the fourth quarter worth approximately $164,000.
NYSE BID opened at $35.07 on Thursday. Sothebys has a 52 week low of $32.01 and a 52 week high of $59.88. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.11 and a current ratio of 1.16. The firm has a market cap of $1.65 billion, a PE ratio of 14.14 and a beta of 1.46.
Sothebys (NYSE:BID) last posted its earnings results on Thursday, May 2nd. The specialty retailer reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.09. Sothebys had a net margin of 10.66% and a return on equity of 24.25%. The business had revenue of $173.50 million for the quarter, compared to analysts’ expectations of $173.62 million. During the same period in the previous year, the company posted $0.09 earnings per share. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Sothebys will post 2.63 earnings per share for the current year.
Several equities research analysts have issued reports on BID shares. TheStreet upgraded shares of Sothebys from a “c” rating to a “b-” rating in a research note on Wednesday, March 20th. Zacks Investment Research raised shares of Sothebys from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research report on Wednesday, April 10th. Berenberg Bank started coverage on shares of Sothebys in a research report on Wednesday, February 13th. They set a “hold” rating and a $39.00 target price on the stock. Finally, Susquehanna Bancshares reissued a “hold” rating on shares of Sothebys in a research report on Thursday, February 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $44.25.
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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