Norges Bank Makes New $270.81 Million Investment in Somnigroup International Inc. $SGI

Norges Bank acquired a new position in shares of Somnigroup International Inc. (NYSE:SGI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,033,311 shares of the company’s stock, valued at approximately $270,814,000. Norges Bank owned 1.45% of Somnigroup International as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Allworth Financial LP bought a new position in Somnigroup International during the third quarter worth $32,000. Elyxium Wealth LLC bought a new stake in Somnigroup International in the fourth quarter valued at $35,000. First Horizon Corp increased its stake in Somnigroup International by 93.3% in the fourth quarter. First Horizon Corp now owns 464 shares of the company’s stock valued at $41,000 after purchasing an additional 224 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in Somnigroup International in the fourth quarter valued at $42,000. Finally, Assetmark Inc. increased its stake in Somnigroup International by 56.6% in the fourth quarter. Assetmark Inc. now owns 512 shares of the company’s stock valued at $46,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 99.86% of the company’s stock.

Somnigroup International Price Performance

NYSE:SGI opened at $68.04 on Wednesday. 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 stock’s 50-day simple moving average is $73.26. The company has a market capitalization of $14.31 billion, a P/E ratio of 27.77, a PEG ratio of 1.26 and a beta of 1.21. Somnigroup International Inc. has a one year low of $60.39 and a one year high of $98.56.

Somnigroup International (NYSE:SGI) last posted its earnings results on Thursday, May 7th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.57 by $0.02. The company had revenue of $1.80 billion during the quarter. Somnigroup International had a net margin of 6.80% and a return on equity of 19.62%. The company’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 earnings per share. Somnigroup International has set its FY 2026 guidance at 3.000-3.400 EPS. On average, equities research analysts expect that Somnigroup International Inc. will post 3.2 earnings per share for the current fiscal year.

Somnigroup International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. Somnigroup International’s payout ratio is presently 27.76%.

Analyst Ratings Changes

Several equities research analysts have weighed in on SGI shares. Weiss Ratings downgraded shares of Somnigroup International from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Jefferies Financial Group raised shares of Somnigroup International from a “hold” rating to a “buy” rating and decreased their price target for the company from $90.00 to $88.00 in a research note on Thursday, March 26th. Truist Financial lifted their price target 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. Bank of America decreased their price target 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. Finally, UBS Group decreased 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 note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $98.60.

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.