Somnigroup International Inc. $SGI Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon trimmed its Somnigroup International stake by 2.0% in the first quarter, selling 28,045 shares and ending with 1.4 million shares valued at about $103.5 million.
• Analyst sentiment remains generally positive, with five Buy ratings and three Hold ratings; the consensus target price is $98.67, though some firms recently lowered their price targets.
• Somnigroup International posted better-than-expected quarterly results, with EPS of $0.59 versus $0.57 expected and revenue up 12.3% year over year to $1.80 billion. The company also pays a quarterly dividend of $0.17, implying a 1.0% yield.

Bank of New York Mellon Corp trimmed its stake in shares of Somnigroup International Inc. (NYSE:SGI - Free Report) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,400,767 shares of the company's stock after selling 28,045 shares during the quarter. Bank of New York Mellon Corp owned about 0.67% of Somnigroup International worth $103,545,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Artisan Partners Limited Partnership bought a new stake in Somnigroup International in the 4th quarter valued at about $274,323,000. Norges Bank bought a new stake in shares of Somnigroup International during the fourth quarter valued at approximately $270,814,000. Squarepoint Ops LLC raised its holdings in shares of Somnigroup International by 125.4% during the fourth quarter. Squarepoint Ops LLC now owns 1,232,152 shares of the company's stock valued at $110,007,000 after buying an additional 685,420 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Somnigroup International during the fourth quarter worth approximately $52,804,000. Finally, Greenstone Partners & Co. LLC acquired a new position in shares of Somnigroup International during the fourth quarter worth approximately $46,941,000. Institutional investors and hedge funds own 99.86% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Bank of America cut their target price on Somnigroup International from $106.00 to $96.00 and set a "buy" rating on the stock in a research note on Tuesday, April 14th. Zelman & Associates began coverage on shares of Somnigroup International in a report on Tuesday, June 23rd. They issued an "outperform" rating and a $99.00 price objective for the company. Stephens reiterated an "equal weight" rating and issued a $89.00 target price on shares of Somnigroup International in a research report on Tuesday, April 14th. Weiss Ratings lowered shares of Somnigroup International from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, May 26th. Finally, UBS Group lowered their target price on shares of Somnigroup International from $110.00 to $105.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.67.

Somnigroup International Price Performance

SGI stock opened at $70.36 on Tuesday. Somnigroup International Inc. has a one year low of $60.39 and a one year high of $98.56. The firm has a 50-day moving average of $71.60 and a two-hundred day moving average of $79.71. The firm has a market capitalization of $14.80 billion, a PE ratio of 28.72, a P/E/G ratio of 1.35 and a beta of 1.19. The company has a current ratio of 0.78, a quick ratio of 0.38 and a debt-to-equity ratio of 1.41.

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

Somnigroup International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. Somnigroup International's dividend payout ratio (DPR) is currently 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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