Allspring Global Investments Holdings LLC Grows Stock Holdings in Somnigroup International Inc. $SGI

Allspring Global Investments Holdings LLC grew its position in shares of Somnigroup International Inc. (NYSE:SGI - Free Report) by 62.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,046,320 shares of the company's stock after acquiring an additional 1,171,485 shares during the period. Allspring Global Investments Holdings LLC owned about 1.45% of Somnigroup International worth $224,240,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Core Wealth Advisors LLC purchased a new stake in Somnigroup International in the 4th quarter worth approximately $30,000. Allworth Financial LP purchased a new position in shares of Somnigroup International during the third quarter valued at approximately $32,000. Elyxium Wealth LLC bought a new position in shares of Somnigroup International during the fourth quarter valued at approximately $35,000. First Horizon Corp raised its holdings in shares of Somnigroup International by 93.3% during the fourth quarter. First Horizon Corp now owns 464 shares of the company's stock valued at $41,000 after acquiring an additional 224 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Somnigroup International in the fourth quarter worth $42,000. 99.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Somnigroup International from a "hold" rating to a "buy" rating and cut their price target for the company from $90.00 to $88.00 in a report on Thursday, March 26th. Stephens reaffirmed an "equal weight" rating and issued a $89.00 target price on shares of Somnigroup International in a research report on Tuesday, April 14th. Bank of America dropped their target price on shares of Somnigroup International from $106.00 to $96.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. Weiss Ratings lowered shares of Somnigroup International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, May 26th. Finally, Zelman & Associates started coverage on shares of Somnigroup International in a research report on Tuesday, June 23rd. They set an "outperform" rating and a $99.00 price target on the stock. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Somnigroup International presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.67.

Somnigroup International Price Performance

Shares of SGI opened at $75.19 on Friday. Somnigroup International Inc. has a fifty-two week low of $60.39 and a fifty-two week high of $98.56. The firm's 50-day simple moving average is $71.46 and its two-hundred day simple moving average is $79.97. The stock has a market cap of $15.82 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.38 and a current ratio of 0.78.

Somnigroup International (NYSE:SGI - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The firm had revenue of $1.80 billion during the quarter. Somnigroup International had a net margin of 6.80% and a return on equity of 19.62%. Somnigroup International's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. Somnigroup International has set its FY 2026 guidance at 3.000-3.400 EPS. Analysts anticipate that Somnigroup International Inc. will post 3.15 earnings per share for the current fiscal year.

Somnigroup International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, May 21st. Somnigroup International's dividend payout ratio is currently 27.76%.

About Somnigroup International

Somnigroup 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. The company sells its products through approximately company-owned stores, online, and call centers; and third party retailers, including third party distribution, hospitality, and healthcare.

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