Robeco Institutional Asset Management B.V. Buys 339,384 Shares of TIM S.A. Sponsored ADR $TIMB

Key Points

• Robeco Institutional Asset Management B.V. increased its holdings in TIM S.A. Sponsored ADR by 10.8%, purchasing an additional 339,384 shares, bringing its total stake to approximately 3.48 million shares valued at $70 million.
• Analyst ratings for TIM have improved, with Scotiabank and JPMorgan Chase raising their price targets significantly, while Wall Street Zen upgraded the stock to a "strong-buy" rating.
• TIM has announced a special dividend of $0.1888 per share, which is set to be paid on January 28, 2024, with an ex-dividend date on October 3, 2023.

Robeco Institutional Asset Management B.V. grew its stake in TIM S.A. Sponsored ADR (NYSE:TIMB - Free Report) by 10.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,482,294 shares of the company's stock after purchasing an additional 339,384 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.72% of TIM worth $70,029,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in shares of TIM by 4.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,056,805 shares of the company's stock valued at $16,539,000 after purchasing an additional 47,130 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of TIM by 10.2% in the first quarter. Crossmark Global Holdings Inc. now owns 624,359 shares of the company's stock valued at $9,771,000 after acquiring an additional 57,562 shares in the last quarter. American Century Companies Inc. grew its stake in shares of TIM by 5.3% in the first quarter. American Century Companies Inc. now owns 352,399 shares of the company's stock valued at $5,515,000 after acquiring an additional 17,720 shares in the last quarter. Assetmark Inc. grew its stake in shares of TIM by 18.0% in the first quarter. Assetmark Inc. now owns 329,779 shares of the company's stock valued at $5,161,000 after acquiring an additional 50,370 shares in the last quarter. Finally, Banco BTG Pactual S.A. grew its stake in shares of TIM by 1,302.9% in the first quarter. Banco BTG Pactual S.A. now owns 260,933 shares of the company's stock valued at $4,084,000 after acquiring an additional 242,333 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms recently commented on TIMB. Scotiabank upped their price target on shares of TIM from $19.10 to $23.60 and gave the company a "sector outperform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. upped their price target on shares of TIM from $22.00 to $24.50 and gave the company an "overweight" rating in a research note on Friday, August 8th. Citigroup began coverage on shares of TIM in a research note on Wednesday, September 10th. They issued a "buy" rating on the stock. Wall Street Zen upgraded shares of TIM from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 20th. Finally, HSBC downgraded shares of TIM to a "hold" rating in a research note on Friday, June 13th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, TIM presently has a consensus rating of "Hold" and an average price target of $21.25.

TIM Trading Down 0.6%

Shares of TIM stock opened at $21.92 on Friday. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.87 and a beta of 0.65. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.54. TIM S.A. Sponsored ADR has a 12-month low of $11.32 and a 12-month high of $22.47. The firm's 50-day moving average price is $20.69 and its two-hundred day moving average price is $18.44.

TIM (NYSE:TIMB - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.04. The firm had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $6.62 billion. TIM had a net margin of 13.91% and a return on equity of 13.99%. On average, analysts forecast that TIM S.A. Sponsored ADR will post 1.34 earnings per share for the current fiscal year.

TIM Announces Dividend

The firm also recently disclosed a special dividend, which will be paid on Wednesday, January 28th. Investors of record on Friday, October 3rd will be issued a $0.1888 dividend. The ex-dividend date is Friday, October 3rd. TIM's dividend payout ratio (DPR) is 60.47%.

TIM Company Profile

TIM SA, a telecommunications company, provides mobile voice, data, and broadband services in Brazil. The company offers in mobile, landline, long-distance, and data transmission services. It also offers fixed ultra-broadband, fixed ultraband broadband, and digital content services. The company serves individuals and corporates, as well as small, medium, and large companies.

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