Principal Financial Group Inc. Reduces Holdings in Tempur Sealy International, Inc. (NYSE:TPX)

Principal Financial Group Inc. lowered its stake in Tempur Sealy International, Inc. (NYSE:TPX) by 30.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 405,340 shares of the company’s stock after selling 174,544 shares during the period. Principal Financial Group Inc.’s holdings in Tempur Sealy International were worth $22,132,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Darsana Capital Partners LP raised its holdings in shares of Tempur Sealy International by 40.0% in the second quarter. Darsana Capital Partners LP now owns 7,000,000 shares of the company’s stock worth $331,380,000 after acquiring an additional 2,000,000 shares during the last quarter. Eminence Capital LP increased its position in Tempur Sealy International by 61.6% during the 2nd quarter. Eminence Capital LP now owns 2,249,222 shares of the company’s stock worth $106,478,000 after purchasing an additional 857,478 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Tempur Sealy International in the 2nd quarter valued at about $37,278,000. Linonia Partnership LP lifted its holdings in Tempur Sealy International by 17.1% in the 2nd quarter. Linonia Partnership LP now owns 3,749,434 shares of the company’s stock valued at $177,498,000 after purchasing an additional 548,004 shares in the last quarter. Finally, Maverick Capital Ltd. lifted its holdings in Tempur Sealy International by 104.1% in the 2nd quarter. Maverick Capital Ltd. now owns 978,708 shares of the company’s stock valued at $46,332,000 after purchasing an additional 499,233 shares in the last quarter. Institutional investors and hedge funds own 99.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TPX. Raymond James lowered their price target on shares of Tempur Sealy International from $57.00 to $55.00 and set a “strong-buy” rating for the company in a report on Friday, November 1st. Wedbush lifted their target price on shares of Tempur Sealy International from $49.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tempur Sealy International presently has a consensus rating of “Buy” and a consensus price target of $60.67.

Tempur Sealy International Trading Down 0.6 %

Shares of TPX stock opened at $55.34 on Thursday. Tempur Sealy International, Inc. has a 1-year low of $38.85 and a 1-year high of $57.13. The firm’s 50-day simple moving average is $51.43 and its 200-day simple moving average is $50.66. The firm has a market cap of $9.61 billion, a P/E ratio of 25.27, a PEG ratio of 2.04 and a beta of 1.60. The company has a debt-to-equity ratio of 3.95, a current ratio of 1.14 and a quick ratio of 0.65.

Tempur Sealy International (NYSE:TPX) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. Tempur Sealy International had a net margin of 7.96% and a return on equity of 108.66%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the firm posted $0.77 earnings per share. Tempur Sealy International’s revenue was up 1.8% on a year-over-year basis. As a group, equities analysts forecast that Tempur Sealy International, Inc. will post 2.51 EPS for the current year.

Tempur Sealy International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, November 21st. Tempur Sealy International’s payout ratio is currently 23.74%.

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.