Sotheby's declares $4.34 per share special dividend The board of Sotheby's has declared a special dividend of $300M or approximately $4.34 per share payable on March 17 to shareholders of record as of February 12.
Sotheby's price target lowered to $38 from $50 at Stifel Stifel cut its price target on Sotheby's after the company reported lower than expected EPS. The firm says that revenue recognition from the Taubman collection will create "unfavorable Q4 optics" and is causing it to significantly lower its Q4 estimates. Additionally, Stifel says the company lacks near-term catalysts. Nevertheless Stifel expects the company's fiscal 2017 EPS to come in above the current consensus and it keeps a Buy rating on the shares.