AQR Capital Management LLC Reduces Stock Position in Tempur Sealy International, Inc. (NYSE:TPX)

AQR Capital Management LLC cut its stake in shares of Tempur Sealy International, Inc. (NYSE:TPX) by 39.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,422 shares of the company’s stock after selling 11,328 shares during the period. AQR Capital Management LLC’s holdings in Tempur Sealy International were worth $808,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in Tempur Sealy International during the first quarter valued at $26,000. Rise Advisors LLC purchased a new position in shares of Tempur Sealy International in the first quarter worth approximately $27,000. Signaturefd LLC grew its position in Tempur Sealy International by 35.1% during the second quarter. Signaturefd LLC now owns 981 shares of the company’s stock valued at $46,000 after buying an additional 255 shares during the period. J.Safra Asset Management Corp increased its holdings in Tempur Sealy International by 80.0% during the first quarter. J.Safra Asset Management Corp now owns 1,028 shares of the company’s stock valued at $58,000 after buying an additional 457 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC bought a new position in Tempur Sealy International in the second quarter worth approximately $56,000. 99.86% of the stock is owned by institutional investors.

Tempur Sealy International Price Performance

TPX stock opened at $50.64 on Friday. The company has a debt-to-equity ratio of 5.92, a quick ratio of 0.68 and a current ratio of 1.21. The company’s fifty day moving average price is $51.56 and its 200-day moving average price is $50.91. Tempur Sealy International, Inc. has a one year low of $36.12 and a one year high of $57.13. The company has a market capitalization of $8.79 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 2.18 and a beta of 1.59.

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

Tempur Sealy International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.03%. The ex-dividend date was Thursday, August 15th. Tempur Sealy International’s dividend payout ratio is presently 24.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TPX shares. Wedbush lowered Tempur Sealy International from an “outperform” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research note on Wednesday, September 4th. Truist Financial reduced their price objective on shares of Tempur Sealy International from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Finally, Piper Sandler restated an “overweight” rating and set a $61.00 target price on shares of Tempur Sealy International in a research note on Wednesday, July 3rd. One investment 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. According to MarketBeat, Tempur Sealy International presently has an average rating of “Buy” and a consensus target price of $60.67.

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.