Thrivent Financial For Lutherans increased its position in shares of Sotheby’s (NYSE:BID) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,260 shares of the specialty retailer’s stock after purchasing an additional 550 shares during the quarter. Thrivent Financial For Lutherans’ holdings in Sotheby’s were worth $497,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Sotheby’s by 18,784.1% during the first quarter. BlackRock Inc. now owns 4,842,266 shares of the specialty retailer’s stock worth $220,225,000 after purchasing an additional 4,816,624 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Sotheby’s by 2.7% during the first quarter. Vanguard Group Inc. now owns 3,617,503 shares of the specialty retailer’s stock worth $164,524,000 after purchasing an additional 93,927 shares during the last quarter. Paradice Investment Management LLC boosted its holdings in Sotheby’s by 6.3% during the second quarter. Paradice Investment Management LLC now owns 1,042,007 shares of the specialty retailer’s stock worth $55,925,000 after purchasing an additional 61,500 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in Sotheby’s by 6.7% during the second quarter. Conestoga Capital Advisors LLC now owns 720,668 shares of the specialty retailer’s stock worth $38,678,000 after purchasing an additional 45,475 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Sotheby’s by 9.7% during the second quarter. Bank of New York Mellon Corp now owns 594,804 shares of the specialty retailer’s stock worth $31,924,000 after purchasing an additional 52,543 shares during the last quarter. Institutional investors and hedge funds own 89.63% of the company’s stock.

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Sotheby’s (NYSE BID) opened at 50.65 on Tuesday. Sotheby’s has a 1-year low of $33.85 and a 1-year high of $57.95. The stock has a market capitalization of $2.68 billion, a PE ratio of 39.88 and a beta of 1.85. The firm has a 50-day moving average of $46.10 and a 200-day moving average of $49.49.

Sotheby’s (NYSE:BID) last announced its quarterly earnings results on Thursday, August 3rd. The specialty retailer reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $1.51 by ($0.08). Sotheby’s had a return on equity of 18.72% and a net margin of 8.49%. The company had revenue of $314.90 million during the quarter, compared to the consensus estimate of $313.90 million. During the same quarter in the prior year, the firm earned $1.51 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. Equities analysts expect that Sotheby’s will post $1.94 EPS for the current fiscal year.

Sotheby’s declared that its board has initiated a share repurchase program on Tuesday, August 15th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the specialty retailer to buy up to 4.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Several research analysts recently weighed in on the stock. TheStreet upgraded shares of Sotheby’s from a “c” rating to a “b” rating in a report on Monday, August 7th. Zacks Investment Research upgraded shares of Sotheby’s from a “sell” rating to a “hold” rating in a report on Monday. Consumer Edge upgraded shares of Sotheby’s from a “neutral” rating to an “overweight” rating in a report on Wednesday, October 4th. BidaskClub cut shares of Sotheby’s from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Finally, Sidoti restated a “buy” rating and set a $62.00 price target (up from $59.00) on shares of Sotheby’s in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $60.33.

About Sotheby’s

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.

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Institutional Ownership by Quarter for Sotheby`s (NYSE:BID)

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