Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Tim S.A. (NYSE:TIMB - Free Report) by 23.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 542,822 shares of the company's stock after selling 164,888 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.11% of TIM worth $6,384,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. raised its stake in shares of TIM by 55.8% during the third quarter. Itau Unibanco Holding S.A. now owns 1,073,450 shares of the company's stock valued at $18,485,000 after purchasing an additional 384,500 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of TIM during the third quarter valued at about $12,054,000. State Street Corp raised its stake in shares of TIM by 16.7% during the third quarter. State Street Corp now owns 583,724 shares of the company's stock valued at $10,207,000 after purchasing an additional 83,468 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of TIM by 13.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 132,198 shares of the company's stock valued at $1,555,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of TIM by 1.0% during the third quarter. Stifel Financial Corp now owns 85,050 shares of the company's stock valued at $1,465,000 after purchasing an additional 822 shares in the last quarter.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of TIM from $16.00 to $16.50 and gave the company an "equal weight" rating in a research note on Monday. The Goldman Sachs Group cut their price objective on shares of TIM from $16.20 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. UBS Group lowered TIM from a "buy" rating to a "neutral" rating in a report on Monday, December 9th. Finally, Scotiabank lowered their target price on TIM from $23.20 to $17.60 and set a "sector outperform" rating on the stock in a report on Wednesday, February 12th.
Check Out Our Latest Report on TIM
TIM Stock Up 0.4 %
NYSE:TIMB traded up $0.07 on Wednesday, hitting $15.14. 444,135 shares of the company's stock traded hands, compared to its average volume of 604,512. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52. Tim S.A. has a 1 year low of $11.32 and a 1 year high of $18.78. The firm has a 50-day moving average price of $13.73 and a 200-day moving average price of $14.23. The company has a market cap of $7.33 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 0.67 and a beta of 0.84.
TIM (NYSE:TIMB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). TIM had a net margin of 12.24% and a return on equity of 11.91%. Equities analysts anticipate that Tim S.A. will post 1.34 EPS for the current fiscal year.
TIM Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.0717 per share. The ex-dividend date is Friday, February 21st. This represents a $0.29 dividend on an annualized basis and a dividend yield of 1.89%. TIM's dividend payout ratio (DPR) is presently 51.69%.
TIM Profile
(
Free Report)
TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.
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