Zurcher Kantonalbank Zurich Cantonalbank Sells 6,809 Shares of Tempur Sealy International, Inc. (NYSE:TPX)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Tempur Sealy International, Inc. (NYSE:TPX) by 19.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 28,709 shares of the company’s stock after selling 6,809 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tempur Sealy International were worth $1,359,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Tempur Sealy International in the 4th quarter valued at $121,329,000. Browning West LP increased its position in Tempur Sealy International by 7.0% during the fourth quarter. Browning West LP now owns 12,611,189 shares of the company’s stock worth $642,792,000 after acquiring an additional 820,200 shares during the period. Forest Avenue Capital Management LP acquired a new stake in Tempur Sealy International in the 4th quarter worth about $20,454,000. Goodnow Investment Group LLC boosted its holdings in Tempur Sealy International by 47.9% in the 4th quarter. Goodnow Investment Group LLC now owns 773,677 shares of the company’s stock valued at $39,434,000 after purchasing an additional 250,407 shares during the period. Finally, Zeno Equity Partners LLP acquired a new position in shares of Tempur Sealy International during the 4th quarter worth approximately $12,198,000. Institutional investors own 99.86% of the company’s stock.

Tempur Sealy International Price Performance

Tempur Sealy International stock opened at $52.43 on Tuesday. The stock has a fifty day moving average of $49.98 and a 200-day moving average of $51.19. The stock has a market capitalization of $9.10 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 2.24 and a beta of 1.59. The company has a debt-to-equity ratio of 5.92, a quick ratio of 0.68 and a current ratio of 1.21. Tempur Sealy International, Inc. has a 52 week low of $36.12 and a 52 week high of $57.13.

Tempur Sealy International (NYSE:TPX) last posted its earnings results on Tuesday, August 6th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. Tempur Sealy International had a return on equity of 135.46% and a net margin of 7.65%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.58 EPS. On average, sell-side analysts expect that Tempur Sealy International, Inc. will post 2.53 earnings per share for the current fiscal year.

Tempur Sealy International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.99%. Tempur Sealy International’s payout ratio is presently 25.74%.

Analysts Set New Price Targets

TPX has been the subject of several recent research reports. Piper Sandler reiterated an “overweight” rating and issued a $61.00 price target on shares of Tempur Sealy International in a research note on Wednesday, July 3rd. Wedbush cut their target price on Tempur Sealy International from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Truist Financial decreased their price target on Tempur Sealy International from $65.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $59.71.

Tempur Sealy International Company Profile

Tempur Sealy International, Inc, together with its subsidiaries, designs, manufactures, distributes, and retails bedding products in the United States and internationally. It provides mattresses, foundations and adjustable foundations, and adjustable bases, as well as other products comprising pillows, mattress covers, sheets, cushions, and various other accessories and comfort products under the Tempur-Pedic, Sealy, Stearns & Foster, Sealy, and Cocoon by Sealy brand names.