Teacher Retirement System of Texas purchased a new stake in Sothebys (NYSE:BID) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 12,538 shares of the specialty retailer’s stock, valued at approximately $647,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BID. Evanson Asset Management LLC acquired a new position in Sothebys in the fourth quarter valued at approximately $203,000. US Bancorp DE boosted its holdings in shares of Sothebys by 55.4% in the fourth quarter. US Bancorp DE now owns 4,251 shares of the specialty retailer’s stock valued at $219,000 after acquiring an additional 1,516 shares during the period. Wright Investors Service Inc. acquired a new stake in shares of Sothebys in the fourth quarter valued at approximately $232,000. Yorktown Management & Research Co Inc acquired a new stake in shares of Sothebys in the third quarter valued at approximately $233,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Sothebys in the third quarter valued at approximately $278,000. 89.50% of the stock is owned by hedge funds and other institutional investors.

Shares of Sothebys (NYSE BID) opened at $53.00 on Friday. The firm has a market capitalization of $2,780.43, a P/E ratio of 23.66 and a beta of 1.86. Sothebys has a fifty-two week low of $42.78 and a fifty-two week high of $57.95. 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 (NYSE:BID) last posted its quarterly earnings data on Thursday, March 1st. The specialty retailer reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.07. The business had revenue of $315.56 million during the quarter, compared to the consensus estimate of $306.70 million. Sothebys had a return on equity of 22.31% and a net margin of 12.01%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.35 earnings per share. sell-side analysts predict that Sothebys will post 2.51 EPS for the current fiscal year.

In related news, Director Olivier Reza sold 65,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $51.64, for a total transaction of $3,356,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin M. Delaney sold 1,821 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $51.71, for a total value of $94,163.91. Following the sale, the senior vice president now directly owns 798 shares of the company’s stock, valued at $41,264.58. The disclosure for this sale can be found here. Insiders sold 76,821 shares of company stock valued at $3,962,164 over the last three months. Corporate insiders own 13.81% of the company’s stock.

Several research firms have recently weighed in on BID. Zacks Investment Research raised Sothebys from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Monday, January 8th. Cowen reissued a “buy” rating and issued a $63.00 price objective on shares of Sothebys in a report on Friday, March 2nd. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Sothebys has a consensus rating of “Buy” and a consensus price target of $61.00.

ILLEGAL ACTIVITY WARNING: “12,538 Shares in Sothebys (BID) Purchased by Teacher Retirement System of Texas” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://www.thecerbatgem.com/2018/03/11/12538-shares-in-sothebys-bid-purchased-by-teacher-retirement-system-of-texas.html.

Sothebys Company Profile

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.

Want to see what other hedge funds are holding BID? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sothebys (NYSE:BID).

Institutional Ownership by Quarter for Sothebys (NYSE:BID)

Receive News & Ratings for Sothebys Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sothebys and related companies with MarketBeat.com's FREE daily email newsletter.