Bank of New York Mellon Corp Makes New Investment in Somnigroup International Inc. $SGI

Bank of New York Mellon Corp bought a new stake in shares of Somnigroup International Inc. (NYSE:SGI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,360,725 shares of the company's stock, valued at approximately $106,681,000. Bank of New York Mellon Corp owned approximately 0.65% of Somnigroup International as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Artisan Partners Limited Partnership bought a new stake in Somnigroup International during the 4th quarter worth approximately $274,323,000. Norges Bank purchased a new stake in Somnigroup International in the 4th quarter worth approximately $270,814,000. Allspring Global Investments Holdings LLC boosted its holdings in Somnigroup International by 62.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,046,320 shares of the company's stock valued at $224,240,000 after purchasing an additional 1,171,485 shares during the period. Squarepoint Ops LLC boosted its holdings in Somnigroup International by 125.4% in the 4th quarter. Squarepoint Ops LLC now owns 1,232,152 shares of the company's stock valued at $110,007,000 after purchasing an additional 685,420 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in shares of Somnigroup International during the 4th quarter valued at $52,804,000. 99.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SGI shares. Piper Sandler reaffirmed an "overweight" rating and issued a $95.00 price target (down from $102.00) on shares of Somnigroup International in a report on Friday, August 7th. Zacks Research lowered Somnigroup International from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. UBS Group reduced their target price on Somnigroup International from $105.00 to $94.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Truist Financial decreased their target price on Somnigroup International from $115.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Finally, Zelman & Associates assumed coverage on Somnigroup International in a report on Tuesday, June 23rd. They issued an "outperform" rating and a $99.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.50.

Somnigroup International Price Performance

SGI opened at $64.42 on Tuesday. The stock has a 50-day moving average price of $71.19 and a 200-day moving average price of $75.38. Somnigroup International Inc. has a 12-month low of $60.39 and a 12-month high of $98.56. The company has a current ratio of 0.75, a quick ratio of 0.37 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $13.55 billion, a P/E ratio of 25.77, a PEG ratio of 1.45 and a beta of 1.20.

Somnigroup International (NYSE:SGI - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.58 earnings per share for the quarter, meeting analysts' consensus estimates of $0.58. The company had revenue of $1.82 billion for the quarter. Somnigroup International had a return on equity of 19.32% and a net margin of 7.00%.The business's quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. Equities analysts predict that Somnigroup International Inc. will post 3.02 earnings per share for the current fiscal year.

Somnigroup International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. Somnigroup International's dividend payout ratio (DPR) is 27.20%.

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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