Point72 Hong Kong Ltd Makes New Investment in Tempur Sealy International, Inc. (NYSE:TPX)

Point72 Hong Kong Ltd bought a new position in Tempur Sealy International, Inc. (NYSE:TPX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,874 shares of the company’s stock, valued at approximately $515,000.

Other hedge funds have also added to or reduced their stakes in the company. Browning West LP increased its holdings in shares of Tempur Sealy International by 7.0% during the fourth quarter. Browning West LP now owns 12,611,189 shares of the company’s stock valued at $642,792,000 after acquiring an additional 820,200 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Tempur Sealy International during the second quarter valued at approximately $37,278,000. Forest Avenue Capital Management LP bought a new stake in shares of Tempur Sealy International during the fourth quarter valued at approximately $20,454,000. Goodnow Investment Group LLC increased its holdings in shares of Tempur Sealy International by 47.9% during the fourth quarter. Goodnow Investment Group LLC now owns 773,677 shares of the company’s stock valued at $39,434,000 after acquiring an additional 250,407 shares in the last quarter. Finally, Zeno Equity Partners LLP bought a new stake in shares of Tempur Sealy International during the fourth quarter valued at approximately $12,198,000. 99.86% of the stock is currently owned by institutional investors.

Tempur Sealy International Stock Up 0.7 %

Shares of NYSE:TPX opened at $54.05 on Friday. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.30 and a beta of 1.59. The company has a quick ratio of 0.68, a current ratio of 1.21 and a debt-to-equity ratio of 5.92. Tempur Sealy International, Inc. has a 12-month low of $36.12 and a 12-month high of $57.13. The business’s 50 day moving average is $51.21 and its 200 day moving average is $51.06.

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

Tempur Sealy International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.52 annualized dividend and a yield of 0.96%. Tempur Sealy International’s dividend payout ratio is currently 25.74%.

Analyst Ratings Changes

Several equities research analysts have recently commented on TPX shares. Truist Financial decreased their price objective on 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 for the company. in a report on Wednesday, September 4th. Finally, Piper Sandler restated an “overweight” rating and set a $61.00 price objective on shares of Tempur Sealy International in a report on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.71.

Tempur Sealy International 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.