California State Teachers Retirement System Lowers Stock Holdings in Somnigroup International Inc. $SGI

California State Teachers Retirement System cut its stake in shares of Somnigroup International Inc. (NYSE:SGI - Free Report) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 230,721 shares of the company's stock after selling 1,116 shares during the period. California State Teachers Retirement System owned 0.11% of Somnigroup International worth $18,088,526 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Somnigroup International in the 2nd quarter valued at $1,507,604,000. Linonia Partnership LP acquired a new stake in shares of Somnigroup International in the 2nd quarter valued at $519,372,000. Geode Capital Management LLC increased its position in shares of Somnigroup International by 9.3% during the fourth quarter. Geode Capital Management LLC now owns 4,375,264 shares of the company's stock worth $390,699,000 after buying an additional 371,234 shares during the period. Artisan Partners Limited Partnership bought a new stake in Somnigroup International during the fourth quarter worth $274,323,000. Finally, Norges Bank bought a new stake in Somnigroup International during the 4th quarter worth approximately $270,814,000. 99.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Somnigroup International

In related news, CEO Scott Thompson acquired 30,000 shares of Somnigroup International stock in a transaction on Thursday, August 27th. The stock was purchased at an average cost of $62.84 per share, with a total value of $1,885,200.00. Following the purchase, the chief executive officer directly owned 4,123,634 shares in the company, valued at approximately $259,129,160.56. The trade was a 0.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.99% of the company's stock.

Somnigroup International Trading Down 3.3%

NYSE SGI traded down $2.27 during trading hours on Tuesday, hitting $65.85. 1,751,939 shares of the company's stock were exchanged, compared to its average volume of 2,758,207. Somnigroup International Inc. has a 1-year low of $60.39 and a 1-year 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 50-day simple moving average of $68.16 and a 200 day simple moving average of $72.58. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 1.09 and a beta of 1.19.

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, hitting analysts' consensus estimates of $0.58. Somnigroup International had a net margin of 7.00% and a return on equity of 19.32%. The firm had revenue of $1.82 billion during the quarter. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company's revenue was down 3.0% compared to the same quarter last year. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. On average, equities analysts forecast that Somnigroup International Inc. will post 3.11 EPS for the current fiscal year.

Somnigroup International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. Somnigroup International's dividend payout ratio is currently 27.20%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SGI. Wall Street Zen upgraded shares of Somnigroup International from a "sell" rating to a "hold" rating in a research note on Saturday, September 5th. Stephens raised shares of Somnigroup International from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $66.00 to $80.00 in a research report on Monday. Zacks Research raised Somnigroup International from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 8th. Truist Financial dropped their price objective on shares of Somnigroup International from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Somnigroup International in a research report on Friday, August 21st. Eight analysts have rated the stock with a Buy rating and two have issued a Hold 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 $95.00.

Somnigroup International Company Profile

Somnigroup International Inc is a global sleep products company that designs, manufactures, distributes and sells mattresses, pillows, adjustable bases, foundations and other bedding products. The company serves consumers through a combination of wholesale, direct-to-consumer and retail channels, including company-operated and franchised retail locations.

Somnigroup's portfolio includes well-known brands such as Tempur-Pedic, Sealy, Stearns & Foster and Cocoon by Sealy. Following its combination with Mattress Firm, the company also operates one of the largest mattress specialty retail platforms in North America, offering products from its own brands as well as other manufacturers.

The company traces its roots to Tempur Sealy International, which was formed through the combination of Tempur-Pedic and Sealy.

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