RIHO Partners LLC lifted its stake in shares of Somnigroup International Inc. (NYSE:SGI – Free Report) by 13.3% in the first quarter, Holdings Channel reports. The firm owned 164,099 shares of the company’s stock after buying an additional 19,316 shares during the period. Somnigroup International accounts for about 7.6% of RIHO Partners LLC’s investment portfolio, making the stock its 4th largest position. RIHO Partners LLC’s holdings in Somnigroup International were worth $12,130,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Core Wealth Advisors LLC purchased a new position in Somnigroup International in the 4th quarter valued at about $30,000. Allworth Financial LP purchased a new stake in Somnigroup International during the 3rd quarter worth approximately $32,000. Elyxium Wealth LLC purchased a new stake in Somnigroup International during the 4th quarter worth approximately $35,000. First Horizon Corp increased its stake in 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 buying an additional 224 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Somnigroup International during the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 99.86% of the company’s stock.
Somnigroup International Stock Down 0.1%
SGI stock opened at $71.52 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.38 and a debt-to-equity ratio of 1.41. The firm has a 50-day moving average of $72.08 and a two-hundred day moving average of $79.17. Somnigroup International Inc. has a 12 month low of $60.39 and a 12 month high of $98.56. The company has a market cap of $15.05 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 1.33 and a beta of 1.19.
Somnigroup International Announces Dividend
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 was Thursday, May 21st. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. Somnigroup International’s dividend payout ratio (DPR) is presently 27.76%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Zelman & Associates initiated coverage on Somnigroup International in a research report on Tuesday, June 23rd. They issued an “outperform” rating and a $99.00 target price on the stock. Bank of America dropped their price target 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. Stephens reissued an “equal weight” rating and issued a $89.00 price objective on shares of Somnigroup International in a research note on Tuesday, April 14th. UBS Group decreased their price objective on Somnigroup International from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Weiss Ratings cut shares of Somnigroup International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.67.
Read Our Latest Stock Analysis on Somnigroup International
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.
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