Fifth Third Bancorp Has $7.81 Million Stake in Scripps Networks Interactive, Inc (SNI)

Fifth Third Bancorp lowered its position in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) by 6.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 99,640 shares of the company’s stock after selling 6,970 shares during the period. Fifth Third Bancorp owned approximately 0.08% of Scripps Networks Interactive worth $7,809,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. TCW Group Inc. purchased a new stake in shares of Scripps Networks Interactive during the fourth quarter worth approximately $1,013,000. Envestnet Asset Management Inc. boosted its stake in shares of Scripps Networks Interactive by 12.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 207,057 shares of the company’s stock worth $14,777,000 after buying an additional 22,577 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Scripps Networks Interactive by 0.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 122,281 shares of the company’s stock worth $8,727,000 after buying an additional 398 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Scripps Networks Interactive by 50.3% in the fourth quarter. Guggenheim Capital LLC now owns 896,449 shares of the company’s stock worth $63,978,000 after buying an additional 299,970 shares during the period. Finally, Independent Advisor Alliance purchased a new stake in shares of Scripps Networks Interactive during the fourth quarter worth approximately $218,000. 70.08% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Scripps Networks Interactive (NASDAQ:SNI)

Shares of Scripps Networks Interactive, Inc (SNI) traded down 1.47% during trading on Tuesday, hitting $66.49. 265,026 shares of the stock traded hands. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 14.86 and a beta of 1.43. Scripps Networks Interactive, Inc has a 12 month low of $58.73 and a 12 month high of $83.42. The company has a 50 day moving average price of $68.03 and a 200 day moving average price of $73.87.

Scripps Networks Interactive (NASDAQ:SNI) last announced its earnings results on Thursday, May 4th. The company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.35. The firm had revenue of $855 million for the quarter, compared to analyst estimates of $856.98 million. Scripps Networks Interactive had a net margin of 16.94% and a return on equity of 30.71%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 EPS. Analysts anticipate that Scripps Networks Interactive, Inc will post $5.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 10th. Investors of record on Wednesday, May 31st were given a dividend of $0.30 per share. The ex-dividend date was Friday, May 26th. This represents a $1.20 dividend on an annualized basis and a yield of 1.78%. Scripps Networks Interactive’s dividend payout ratio (DPR) is currently 26.85%.

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A number of analysts have commented on SNI shares. Needham & Company LLC upped their price target on shares of Scripps Networks Interactive from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd. Guggenheim reaffirmed a “neutral” rating and set a $82.00 price target on shares of Scripps Networks Interactive in a research report on Wednesday, February 22nd. Royal Bank Of Canada upped their price target on shares of Scripps Networks Interactive from $70.00 to $87.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 22nd. Stifel Nicolaus upped their price target on shares of Scripps Networks Interactive from $75.00 to $90.00 and gave the company a “positive” rating in a research report on Wednesday, February 22nd. Finally, Zacks Investment Research cut shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research report on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $77.42.

In related news, major shareholder Margaret Scripps Klenzing sold 46,466 shares of Scripps Networks Interactive stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $71.01, for a total transaction of $3,299,550.66. Following the completion of the transaction, the insider now directly owns 10,013 shares of the company’s stock, valued at approximately $711,023.13. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Edward W. Scripps sold 300,000 shares of Scripps Networks Interactive stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $66.96, for a total transaction of $20,088,000.00. Following the transaction, the insider now directly owns 232,071 shares of the company’s stock, valued at $15,539,474.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 376,466 shares of company stock valued at $25,477,051. 2.50% of the stock is currently owned by corporate insiders.

About Scripps Networks Interactive

Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.

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