Barrow Hanley Mewhinney & Strauss LLC Increases Position in Sothebys (BID)

Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Sothebys (NYSE:BID) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,456 shares of the specialty retailer’s stock after buying an additional 3,578 shares during the period. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Sothebys were worth $5,024,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Creative Planning raised its position in shares of Sothebys by 4.6% in the first quarter. Creative Planning now owns 2,282 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 100 shares during the last quarter. Strs Ohio raised its position in shares of Sothebys by 2,200.0% in the first quarter. Strs Ohio now owns 2,300 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 2,200 shares during the last quarter. Tyers Asset Management LLC acquired a new position in shares of Sothebys during the fourth quarter valued at $109,000. Envestnet Asset Management Inc. raised its position in shares of Sothebys by 68.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,818 shares of the specialty retailer’s stock valued at $112,000 after buying an additional 1,147 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Sothebys by 28.5% in the first quarter. US Bancorp DE now owns 2,486 shares of the specialty retailer’s stock valued at $113,000 after buying an additional 551 shares during the last quarter. 88.23% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Sothebys (NYSE:BID)

Shares of Sothebys (BID) traded down 0.92% during trading on Friday, reaching $51.89. 276,322 shares of the company traded hands. The stock’s 50 day moving average price is $49.94 and its 200-day moving average price is $44.18. Sothebys has a 12 month low of $25.88 and a 12 month high of $55.21. The stock has a market cap of $2.73 billion, a P/E ratio of 32.55 and a beta of 1.96.

Sothebys (NYSE:BID) last issued its quarterly earnings results on Wednesday, May 10th. The specialty retailer reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.17. The business had revenue of $187.50 million for the quarter, compared to analyst estimates of $111.66 million. Sothebys had a positive return on equity of 16.53% and a negative net margin of 0.31%. Sothebys’s quarterly revenue was up 76.1% compared to the same quarter last year. During the same period last year, the company posted ($0.35) earnings per share. On average, equities research analysts expect that Sothebys will post $2.07 EPS for the current fiscal year.

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Several equities analysts recently weighed in on BID shares. TheStreet raised shares of Sothebys from a “c+” rating to a “b-” rating in a research report on Thursday, March 16th. Zacks Investment Research raised shares of Sothebys from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Friday, February 24th. Finally, Cowen and Company raised their price objective on shares of Sothebys from $53.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, March 16th.

Sothebys Company Profile

Sotheby’s is a global art business company. The Company is engaged in offering its clients opportunities to connect with and transact in a range of objects. The Company offers a range of art-related services, including the brokerage of private art sales, private jewelry sales through Sotheby’s Diamonds, private selling exhibitions at its galleries, art-related financing, and art advisory services, as well as retail wine locations in New York and Hong Kong.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BID”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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