BlackRock Inc. Purchases New Position in Somnigroup International Inc. $SGI

Key Points

• BlackRock acquired 19.23 million shares of Somnigroup International in the second quarter, valued at approximately $1.51 billion and representing a 9.14% stake. Institutional investors collectively own 99.86% of the company.
• Analyst sentiment remains broadly positive, with seven Buy ratings, two Holds, and one Sell; the consensus rating is Moderate Buy with a $94.50 price target. However, several firms recently downgraded the stock or reduced their price targets.
• SGI shares opened at $64.14, near their 52-week low, while the company’s latest quarterly results met EPS expectations at $0.58 but showed a 3% year-over-year revenue decline. Somnigroup also declared a quarterly dividend of $0.17 per share, equivalent to a 1.1% annual yield.

BlackRock Inc. bought a new position in shares of Somnigroup International Inc. (NYSE:SGI - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 19,229,644 shares of the company's stock, valued at approximately $1,507,604,000. BlackRock Inc. owned 9.14% of Somnigroup International at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Core Wealth Advisors LLC purchased a new stake in shares of Somnigroup International in the fourth quarter valued at approximately $30,000. Allworth Financial LP acquired a new stake in Somnigroup International during the third quarter worth approximately $32,000. Elyxium Wealth LLC purchased a new stake in Somnigroup International in the fourth quarter valued at approximately $35,000. First Horizon Corp increased its holdings in shares of Somnigroup International by 93.3% in the fourth quarter. First Horizon Corp now owns 464 shares of the company's stock valued at $41,000 after purchasing an additional 224 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Somnigroup International in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 99.86% of the company's stock.

Analyst Upgrades and Downgrades

SGI has been the topic of a number of research analyst reports. Weiss Ratings downgraded Somnigroup International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Zelman & Associates started coverage on Somnigroup International in a research report on Tuesday, June 23rd. They set an "outperform" rating and a $99.00 price target for the company. UBS Group cut their price objective on Somnigroup International from $105.00 to $94.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Somnigroup International from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Zacks Research downgraded shares of Somnigroup International from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.50.

Somnigroup International Trading Down 2.8%

NYSE:SGI opened at $64.14 on Friday. Somnigroup International Inc. has a 1 year low of $60.39 and a 1 year high of $98.56. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.48 and a beta of 1.20. The business has a fifty day moving average of $71.53 and a 200-day moving average of $75.77. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.37 and a current ratio of 0.75.

Somnigroup International (NYSE:SGI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.58. The firm had revenue of $1.82 billion during the quarter. Somnigroup International had a return on equity of 19.32% and a net margin of 7.00%.The business's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous 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 year.

Somnigroup International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. Somnigroup International's payout ratio is currently 27.20%.

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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