K.J. Harrison & Partners Inc Buys Shares of 20,000 Somnigroup International Inc. $SGI

K.J. Harrison & Partners Inc bought a new position in Somnigroup International Inc. (NYSE:SGI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,000 shares of the company’s stock, valued at approximately $1,568,000.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Somnigroup International in the 2nd quarter valued at about $1,507,604,000. Artisan Partners Limited Partnership bought a new position in shares of Somnigroup International during the 4th quarter worth approximately $274,323,000. Norges Bank purchased a new stake in Somnigroup International during the fourth quarter valued at approximately $270,814,000. Bank of New York Mellon Corp purchased a new stake in Somnigroup International during the second quarter valued at approximately $106,681,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Somnigroup International by 62.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,046,320 shares of the company’s stock valued at $224,240,000 after acquiring an additional 1,171,485 shares in the last quarter. 99.86% of the stock is owned by hedge funds and other institutional investors.

Somnigroup International Stock Down 1.6%

NYSE:SGI opened at $65.03 on Tuesday. The company has a market cap of $13.68 billion, a PE ratio of 26.01, a P/E/G ratio of 1.48 and a beta of 1.20. Somnigroup International Inc. has a twelve month low of $60.39 and a twelve month high of $98.56. The company has a current ratio of 0.75, a quick ratio of 0.37 and a debt-to-equity ratio of 1.33. The company’s 50 day moving average is $71.89 and its two-hundred day moving average is $76.28.

Somnigroup International (NYSE:SGI) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The business had revenue of $1.82 billion for the quarter. Somnigroup International had a net margin of 7.00% and a return on equity of 19.32%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. Analysts anticipate that Somnigroup International Inc. will post 3.02 EPS for the current year.

Somnigroup International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 20th. Somnigroup International’s dividend payout ratio is presently 27.20%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SGI shares. Weiss Ratings lowered shares of Somnigroup International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. UBS Group lowered their price objective on Somnigroup International from $105.00 to $94.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Wall Street Zen cut Somnigroup International from a “hold” rating to a “sell” rating in a research report on Saturday. Morgan Stanley started coverage on Somnigroup International in a research note on Monday, July 27th. They set an “overweight” rating and a $95.00 target price on the stock. Finally, Piper Sandler reiterated an “overweight” rating and issued a $95.00 price target (down from $102.00) on shares of Somnigroup International in a research note on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Somnigroup International has a consensus rating of “Moderate Buy” and an average target price of $94.50.

Somnigroup International Company 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.