Bank of New York Mellon Corp Sells 28,045 Shares of Somnigroup International Inc. $SGI

Bank of New York Mellon Corp reduced its stake in shares of Somnigroup International Inc. (NYSE:SGI) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,400,767 shares of the company’s stock after selling 28,045 shares during the quarter. Bank of New York Mellon Corp’s holdings in Somnigroup International were worth $103,545,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SGI. Core Wealth Advisors LLC acquired a new position in shares of Somnigroup International during the fourth quarter valued at about $30,000. Allworth Financial LP bought a new position in Somnigroup International during the third quarter valued at about $32,000. Elyxium Wealth LLC acquired a new position in Somnigroup International in the 4th quarter valued at approximately $35,000. First Horizon Corp lifted its position in shares of Somnigroup International by 93.3% in the 4th quarter. First Horizon Corp now owns 464 shares of the company’s stock worth $41,000 after acquiring an additional 224 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Somnigroup International in the 4th quarter worth approximately $42,000. 99.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Bank of America reduced their target price on Somnigroup International from $106.00 to $96.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Jefferies Financial Group upgraded 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. Stephens reiterated an “equal weight” rating and set 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, Zelman & Associates initiated coverage on shares of Somnigroup International in a research note on Tuesday, June 23rd. They issued an “outperform” rating and a $99.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Somnigroup International presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.67.

Somnigroup International Price Performance

Shares of SGI stock opened at $70.36 on Tuesday. Somnigroup International Inc. has a 1 year low of $60.39 and a 1 year high of $98.56. The firm’s 50 day moving average is $71.60 and its 200-day moving average is $79.71. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of 28.72, a PEG 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) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.02. The business had revenue of $1.80 billion for the quarter. Somnigroup International had a return on equity of 19.62% and a net margin of 6.80%.The company’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. 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 EPS for the current fiscal year.

Somnigroup International Dividend Announcement

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 dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, May 21st. Somnigroup International’s dividend payout ratio (DPR) is currently 27.76%.

About Somnigroup International

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.