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

Raymond James & Associates cut its stake in shares of Tempur Sealy International, Inc. (NYSE:TPX - Free Report) by 11.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 361,166 shares of the company's stock after selling 46,633 shares during the period. Raymond James & Associates owned about 0.21% of Tempur Sealy International worth $19,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Toronto Dominion Bank lifted its position in shares of Tempur Sealy International by 0.6% in the first quarter. Toronto Dominion Bank now owns 32,820 shares of the company's stock valued at $1,865,000 after acquiring an additional 210 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Tempur Sealy International by 0.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 31,574 shares of the company's stock worth $1,495,000 after purchasing an additional 220 shares during the last quarter. J.Safra Asset Management Corp grew its holdings in shares of Tempur Sealy International by 23.8% during the second quarter. J.Safra Asset Management Corp now owns 1,273 shares of the company's stock worth $60,000 after buying an additional 245 shares in the last quarter. Signaturefd LLC raised its position in shares of Tempur Sealy International by 35.1% in the second quarter. Signaturefd LLC now owns 981 shares of the company's stock valued at $46,000 after buying an additional 255 shares during the last quarter. Finally, Hanlon Investment Management Inc. lifted its stake in shares of Tempur Sealy International by 1.9% in the second quarter. Hanlon Investment Management Inc. now owns 14,050 shares of the company's stock worth $665,000 after buying an additional 261 shares in the last quarter. 99.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial cut their price objective on shares of Tempur Sealy International from $65.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, July 10th. Wedbush downgraded Tempur Sealy International from an "outperform" rating to a "neutral" rating and set a $52.00 price objective on the stock. in a research report on Wednesday, September 4th. Finally, Piper Sandler restated an "overweight" rating and issued a $61.00 target price on shares of Tempur Sealy International in a report on Wednesday, July 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tempur Sealy International has a consensus rating of "Buy" and an average price target of $60.67.

Tempur Sealy International Trading Down 0.8 %

Tempur Sealy International stock traded down $0.40 during mid-day trading on Friday, hitting $47.66. The company's stock had a trading volume of 910,052 shares, compared to its average volume of 1,552,377. The stock's fifty day moving average is $51.53 and its two-hundred day moving average is $50.56. The company has a current ratio of 1.21, a quick ratio of 0.68 and a debt-to-equity ratio of 5.92. The firm has a market capitalization of $8.27 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.09 and a beta of 1.59. Tempur Sealy International, Inc. has a 1 year low of $36.12 and a 1 year high of $57.13.

Tempur Sealy International (NYSE:TPX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.01). The business had revenue of $1.23 billion for the quarter, compared to analyst estimates 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 for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share. On average, analysts anticipate that Tempur Sealy International, Inc. will post 2.53 EPS for the current year.

Tempur Sealy International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a $0.13 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.52 annualized dividend and a dividend yield of 1.09%. Tempur Sealy International's dividend payout ratio is currently 25.74%.

About Tempur Sealy International

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.