Wellington Management Group LLP Decreases Holdings in Somnigroup International Inc. $SGI

Wellington Management Group LLP decreased its position in Somnigroup International Inc. (NYSE:SGI) by 3.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,731,286 shares of the company’s stock after selling 53,361 shares during the quarter. Wellington Management Group LLP’s holdings in Somnigroup International were worth $135,733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Somnigroup International in the 2nd quarter worth approximately $1,507,604,000. Linonia Partnership LP purchased a new stake in shares of Somnigroup International in the 2nd quarter valued at $519,372,000. Geode Capital Management LLC grew its holdings in shares of Somnigroup International by 9.3% during the 4th quarter. Geode Capital Management LLC now owns 4,375,264 shares of the company’s stock valued at $390,699,000 after purchasing an additional 371,234 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Somnigroup International by 7.3% during the 4th quarter. JPMorgan Chase & Co. now owns 3,429,208 shares of the company’s stock valued at $306,160,000 after purchasing an additional 232,953 shares during the last quarter. Finally, Third Point LLC raised its position in Somnigroup International by 13.3% in the 4th quarter. Third Point LLC now owns 3,400,000 shares of the company’s stock worth $303,552,000 after purchasing an additional 400,000 shares during the period. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Somnigroup International Price Performance

SGI stock opened at $64.79 on Tuesday. The firm’s 50-day moving average price is $70.11 and its two-hundred day moving average price is $74.24. Somnigroup International Inc. has a 12-month low of $60.39 and a 12-month high of $98.56. The stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.45 and a beta of 1.20. The company has a current ratio of 0.75, a quick ratio of 0.37 and a debt-to-equity ratio of 1.33.

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

Somnigroup International Dividend Announcement

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

Insider Buying and Selling

In other Somnigroup International news, CEO Scott L. Thompson acquired 30,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was acquired at an average price of $62.84 per share, for a total transaction of $1,885,200.00. Following the acquisition, the chief executive officer owned 4,123,634 shares in the company, valued at $259,129,160.56. This represents a 0.73% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.99% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Somnigroup International in a research note on Friday, August 21st. Zelman & Associates initiated coverage on Somnigroup International in a research note on Tuesday, June 23rd. They set an “outperform” rating and a $99.00 price objective on the stock. Wall Street Zen downgraded Somnigroup International from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Truist Financial lowered their target price on Somnigroup International from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, Morgan Stanley initiated coverage on Somnigroup International in a report on Monday, July 27th. They set an “overweight” rating and a $95.00 target price for the company. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.50.

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.