Somnigroup International Inc. $SGI Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lessened its stake in shares of Somnigroup International Inc. (NYSE:SGI) by 17.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 663,524 shares of the company’s stock after selling 138,050 shares during the period. Fred Alger Management LLC owned 0.32% of Somnigroup International worth $59,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SGI. Core Wealth Advisors LLC acquired a new position in shares of Somnigroup International during the 4th quarter worth about $30,000. Allworth Financial LP acquired a new position in shares of Somnigroup International during the 3rd quarter worth about $32,000. Elyxium Wealth LLC acquired a new position in shares of Somnigroup International during the 4th quarter worth about $35,000. First Horizon Corp raised its position in shares of Somnigroup International by 93.3% during the 4th quarter. First Horizon Corp now owns 464 shares of the company’s stock worth $41,000 after purchasing an additional 224 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Somnigroup International during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 99.86% of the company’s stock.

Somnigroup International Stock Performance

Somnigroup International stock opened at $74.91 on Wednesday. The firm has a 50 day simple moving average of $72.64 and a 200-day simple moving average of $82.33. Somnigroup International Inc. has a 1-year low of $60.39 and a 1-year high of $98.56. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.78 and a quick ratio of 0.38. The stock has a market cap of $15.76 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21.

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

Somnigroup International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.17 per share. 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 0.9%. Somnigroup International’s dividend payout ratio (DPR) is presently 27.76%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SGI. Weiss Ratings downgraded shares of Somnigroup International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. UBS Group reduced their price target on shares of Somnigroup International from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Jefferies Financial Group raised shares of Somnigroup International from a “hold” rating to a “buy” rating and dropped their price objective for the company from $90.00 to $88.00 in a research note on Thursday, March 26th. Truist Financial upped their price objective on shares of Somnigroup International from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Finally, Bank of America dropped their price objective 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. Four investment 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, Somnigroup International has an average rating of “Moderate Buy” and an average price target of $98.60.

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.