Allspring Global Investments Holdings LLC Raises Position in Somnigroup International Inc. $SGI

Allspring Global Investments Holdings LLC lifted its position in Somnigroup International Inc. (NYSE:SGI) by 62.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,046,320 shares of the company’s stock after acquiring an additional 1,171,485 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Somnigroup International were worth $224,240,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Core Wealth Advisors LLC bought a new stake in shares of Somnigroup International during the fourth quarter valued at approximately $30,000. Allworth Financial LP purchased a new position in Somnigroup International in the 3rd quarter worth approximately $32,000. Elyxium Wealth LLC bought a new position in Somnigroup International in the 4th quarter valued at approximately $35,000. First Horizon Corp lifted its position in Somnigroup International by 93.3% in the 4th quarter. First Horizon Corp now owns 464 shares of the company’s stock valued at $41,000 after acquiring an additional 224 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Somnigroup International during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SGI shares. 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 report on Tuesday, April 14th. UBS Group lowered their price target on Somnigroup International from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Weiss Ratings cut Somnigroup International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. Zelman & Associates initiated coverage on Somnigroup International in a report on Tuesday, June 23rd. They issued an “outperform” rating and a $99.00 price objective for the company. Finally, Jefferies Financial Group raised Somnigroup International from a “hold” rating to a “buy” rating and decreased their target price for the stock from $90.00 to $88.00 in a research report on Thursday, March 26th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Somnigroup International presently has an average rating of “Moderate Buy” and a consensus target price of $98.67.

Somnigroup International Trading Up 2.6%

Shares of Somnigroup International stock opened at $75.19 on Friday. Somnigroup International Inc. has a 1-year low of $60.39 and a 1-year high of $98.56. The company’s fifty day simple moving average is $71.46 and its 200-day simple moving average is $79.97. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.78 and a quick ratio of 0.38. The stock has a market capitalization of $15.82 billion, a PE ratio of 30.69, a P/E/G ratio of 1.36 and a beta of 1.19.

Somnigroup International (NYSE:SGI) last released its earnings results on Thursday, May 7th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Somnigroup International had a return on equity of 19.62% and a net margin of 6.80%.The company had revenue of $1.80 billion for the quarter. During the same quarter last year, the firm posted $0.49 earnings per share. Somnigroup International’s revenue for the quarter was up 12.3% on a year-over-year basis. Somnigroup International has set its FY 2026 guidance at 3.000-3.400 EPS. As a group, equities analysts anticipate that Somnigroup International Inc. will post 3.15 earnings per share for the current year.

Somnigroup International Announces Dividend

The business also recently disclosed 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 0.9%. The ex-dividend date of this dividend was Thursday, May 21st. Somnigroup International’s payout ratio is presently 27.76%.

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.