Hsbc Holdings PLC Has $3.29 Million Position in Somnigroup International Inc. $SGI

Key Points

• HSBC Holdings PLC boosted its Somnigroup International stake by 264.5% in Q1, ending with 44,922 shares valued at about $3.29 million.
• Somnigroup International reported better-than-expected earnings for the latest quarter, with EPS of $0.59 versus estimates of $0.57 and revenue up 12.3% year over year to $1.80 billion.
• Wall Street remains generally positive on the stock, with a Moderate Buy consensus and an average price target of $98.67, though several analysts have trimmed targets recently.

Hsbc Holdings PLC grew its stake in Somnigroup International Inc. (NYSE:SGI - Free Report) by 264.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,922 shares of the company's stock after purchasing an additional 32,598 shares during the quarter. Hsbc Holdings PLC's holdings in Somnigroup International were worth $3,286,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SGI. Core Wealth Advisors LLC bought a new position in Somnigroup International during the 4th quarter worth approximately $30,000. Allworth Financial LP acquired a new stake in Somnigroup International during the 3rd quarter worth approximately $32,000. Elyxium Wealth LLC bought a new position in Somnigroup International in the fourth quarter valued at approximately $35,000. First Horizon Corp lifted its stake in 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 buying an additional 224 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Somnigroup International in the fourth quarter valued at approximately $42,000. 99.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group dropped their price objective on shares of Somnigroup International from $110.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Bank of America reduced 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 note on Tuesday, April 14th. Stephens reiterated an "equal weight" rating and set a $89.00 target price on shares of Somnigroup International in a report on Tuesday, April 14th. Zelman & Associates assumed coverage on Somnigroup International in a research note on Tuesday, June 23rd. They issued an "outperform" rating and a $99.00 price target on the stock. Finally, Weiss Ratings downgraded Somnigroup International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $98.67.

Somnigroup International Trading Up 3.9%

Shares of NYSE:SGI opened at $71.52 on Friday. Somnigroup International Inc. has a 52-week low of $60.39 and a 52-week 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. The company has a market capitalization of $15.05 billion, a P/E ratio of 29.19, a price-to-earnings-growth ratio of 1.28 and a beta of 1.19. The company has a 50-day simple moving average of $72.08 and a 200 day simple moving average of $79.24.

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

Somnigroup International Dividend Announcement

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

Somnigroup International 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.