TMP 1.1.0 from Package Manager.
Hierarchy:
Before:


After:


This behavior appears to be the result of the RectTransfom issue that was introduced in 2017.3 which also affects 2018.1.
There are several posts about this issue which affects object position when instantiating and cloning objects which happens with the Dropdown and several other UI components and when using Apply on prefabs.
I believe a fix for this issue will be in the next beta or the subsequent one. There is more information on those threads in the forum.