Bank of New York Mellon Corp Cuts Stock Holdings in Somnigroup International Inc. $SGI

Key Points

• Bank of New York Mellon cut its Somnigroup International stake by 12.2% in Q4, selling 198,383 shares and leaving it with 1,428,812 shares valued at about $127.6 million.
• Analyst sentiment remains generally positive: Somnigroup has a Moderate Buy consensus with an average target price of $98.60, though some firms recently trimmed targets or downgraded the stock.
• The company recently beat earnings expectations with Q1 EPS of $0.59 on revenue of $1.80 billion, and it also paid a quarterly dividend of $0.17 per share.

Bank of New York Mellon Corp lowered its stake in shares of Somnigroup International Inc. (NYSE:SGI - Free Report) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,428,812 shares of the company's stock after selling 198,383 shares during the quarter. Bank of New York Mellon Corp owned 0.68% of Somnigroup International worth $127,564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Brown Miller Wealth Management LLC increased its holdings in Somnigroup International by 2.4% in the fourth quarter. Brown Miller Wealth Management LLC now owns 4,820 shares of the company's stock valued at $430,000 after buying an additional 113 shares during the last quarter. HB Wealth Management LLC increased its holdings in Somnigroup International by 1.0% in the fourth quarter. HB Wealth Management LLC now owns 11,885 shares of the company's stock valued at $1,061,000 after buying an additional 115 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in Somnigroup International by 5.1% in the fourth quarter. Sanctuary Advisors LLC now owns 2,912 shares of the company's stock valued at $260,000 after buying an additional 141 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Somnigroup International by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,926 shares of the company's stock valued at $975,000 after buying an additional 142 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in Somnigroup International by 8.1% in the fourth quarter. Fifth Third Bancorp now owns 1,974 shares of the company's stock valued at $176,000 after buying an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 99.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SGI shares. Truist Financial increased their target price on Somnigroup International from $105.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Stephens reissued an "equal weight" rating and issued a $89.00 target price on shares of Somnigroup International in a report on Tuesday, April 14th. Weiss Ratings lowered Somnigroup International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Jefferies Financial Group raised Somnigroup International from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $90.00 to $88.00 in a report on Thursday, March 26th. Finally, Bank of America dropped their price objective on Somnigroup International from $106.00 to $96.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Somnigroup International has an average rating of "Moderate Buy" and an average target price of $98.60.

Somnigroup International Stock Performance

Shares of SGI stock opened at $68.15 on Friday. The business's 50-day moving average price is $72.76. The stock has a market capitalization of $14.34 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. Somnigroup International Inc. has a 1 year low of $60.39 and a 1 year high of $98.56. 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 issued its quarterly earnings data on Thursday, May 7th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.80 billion for the quarter. Somnigroup International had a return on equity of 19.62% and a net margin of 6.80%.The business's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. Somnigroup International has set its FY 2026 guidance at 3.000-3.400 EPS. As a group, research analysts predict that Somnigroup International Inc. will post 3.15 EPS for the current year.

Somnigroup International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, May 21st. Somnigroup International's dividend payout ratio (DPR) is 27.76%.

Somnigroup International Company Profile

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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