Raymond James & Associates Trims Stock Position in Tempur Sealy International, Inc. (NYSE:TPX)

Raymond James & Associates lessened its position in Tempur Sealy International, Inc. (NYSE:TPX - Free Report) by 8.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 407,799 shares of the company's stock after selling 37,220 shares during the period. Raymond James & Associates owned approximately 0.23% of Tempur Sealy International worth $19,305,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in Tempur Sealy International by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,074,166 shares of the company's stock worth $54,750,000 after acquiring an additional 32,707 shares during the period. Zeno Equity Partners LLP purchased a new position in shares of Tempur Sealy International in the fourth quarter valued at $12,198,000. BNP Paribas Financial Markets grew its position in shares of Tempur Sealy International by 431.5% in the first quarter. BNP Paribas Financial Markets now owns 94,925 shares of the company's stock valued at $5,394,000 after purchasing an additional 77,064 shares in the last quarter. National Bank of Canada FI grew its position in shares of Tempur Sealy International by 26,342.9% in the fourth quarter. National Bank of Canada FI now owns 3,702 shares of the company's stock valued at $184,000 after purchasing an additional 3,688 shares in the last quarter. Finally, Ratan Capital Management LP purchased a new position in shares of Tempur Sealy International in the fourth quarter valued at $2,039,000. Institutional investors and hedge funds own 99.86% of the company's stock.

Tempur Sealy International Trading Up 3.1 %

TPX traded up $1.59 during midday trading on Friday, reaching $52.69. 1,210,487 shares of the company's stock traded hands, compared to its average volume of 1,674,294. The firm has a fifty day moving average of $49.43 and a two-hundred day moving average of $51.13. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 25.77, a P/E/G ratio of 2.17 and a beta of 1.60. The company has a debt-to-equity ratio of 5.92, a current ratio of 1.21 and a quick ratio of 0.68. 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 - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.01). Tempur Sealy International had a return on equity of 135.46% and a net margin of 7.65%. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter last year, the company posted $0.58 EPS. The firm's revenue was down 2.8% on a year-over-year basis. On average, equities analysts anticipate that Tempur Sealy International, Inc. will post 2.53 earnings per share for the current fiscal year.

Tempur Sealy International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.99%. Tempur Sealy International's dividend payout ratio (DPR) is 25.74%.

Analyst Upgrades and Downgrades

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