Thornburg Investment Management Inc. Takes Position in Somnigroup International Inc. $SGI

Key Points

• Thornburg Investment Management initiated an approximately $6.4 million position in Somnigroup International, while other major institutions also bought shares. Institutional investors now own 99.86% of the company.
• CEO Scott L. Thompson purchased 30,000 shares worth about $1.9 million. Analyst sentiment remains mixed, but the consensus rating is “Moderate Buy” with a $94.50 price target.
• Somnigroup reported quarterly EPS of $0.58 on $1.82 billion in revenue, with revenue down 3% year over year. The company declared a quarterly dividend of $0.17, equivalent to a 1.1% annual yield.

Thornburg Investment Management Inc. bought a new position in shares of Somnigroup International Inc. (NYSE:SGI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 81,948 shares of the company's stock, valued at approximately $6,425,000.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Somnigroup International in the second quarter worth about $1,507,604,000. Linonia Partnership LP purchased a new stake in Somnigroup International during the 2nd quarter valued at approximately $519,372,000. Artisan Partners Limited Partnership bought a new stake in shares of Somnigroup International during the fourth quarter valued at approximately $274,323,000. Norges Bank purchased a new position in shares of Somnigroup International in the fourth quarter worth $270,814,000. Finally, Bank of America Corp DE bought a new position in shares of Somnigroup International during the second quarter worth $204,632,000. 99.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Somnigroup International

In other Somnigroup International news, CEO Scott L. Thompson bought 30,000 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The shares were purchased at an average cost of $62.84 per share, for a total transaction of $1,885,200.00. Following the purchase, the chief executive officer directly owned 4,123,634 shares in the company, valued at $259,129,160.56. This represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen cut Somnigroup International from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Zacks Research downgraded shares of Somnigroup International from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Somnigroup International in a research report on Friday, August 21st. Zelman & Associates started coverage on shares of Somnigroup International in a research note on Tuesday, June 23rd. They issued an "outperform" rating and a $99.00 price objective for the company. Finally, UBS Group decreased their target price on shares of Somnigroup International from $105.00 to $94.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $94.50.

Somnigroup International Price Performance

SGI opened at $64.40 on Friday. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 1.45 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.37 and a debt-to-equity ratio of 1.33. Somnigroup International Inc. has a 12-month low of $60.39 and a 12-month high of $98.56. The business's fifty day simple moving average is $70.28 and its 200-day simple moving average is $74.63.

Somnigroup International (NYSE:SGI - Get Free Report) last posted its earnings results 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 return on equity of 19.32% and a net margin of 7.00%.The company had revenue of $1.82 billion during the quarter. During the same quarter in the prior year, the company earned $0.53 EPS. The firm's quarterly revenue was down 3.0% on a year-over-year basis. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. On average, equities research analysts anticipate that Somnigroup International Inc. will post 3.02 earnings per share for the current fiscal year.

Somnigroup International Announces Dividend

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