Fred Alger Management LLC Lowers Stake in Somnigroup International Inc. $SGI

Fred Alger Management LLC lowered its stake in shares of Somnigroup International Inc. (NYSE:SGI) by 17.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 663,524 shares of the company’s stock after selling 138,050 shares during the period. Fred Alger Management LLC’s holdings in Somnigroup International were worth $59,239,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Core Wealth Advisors LLC purchased a new position in shares of Somnigroup International during the 4th quarter worth approximately $30,000. Allworth Financial LP purchased a new position in shares of Somnigroup International during the 3rd quarter worth approximately $32,000. Elyxium Wealth LLC purchased a new position in shares of Somnigroup International during the 4th quarter worth approximately $35,000. First Horizon Corp boosted its position in shares of 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 purchasing an additional 224 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Somnigroup International during the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 99.86% of the company’s stock.

Analyst Upgrades and Downgrades

SGI has been the subject of a number of research analyst reports. UBS Group lowered their price objective on shares of Somnigroup International from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Bank of America reduced their target price on shares of Somnigroup International from $106.00 to $96.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Weiss Ratings lowered shares of Somnigroup International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Truist Financial increased their target price on shares of Somnigroup International from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Finally, Jefferies Financial Group upgraded shares of Somnigroup International from a “hold” rating to a “buy” rating and reduced their target price for the stock from $90.00 to $88.00 in a report on Thursday, March 26th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.60.

Somnigroup International Price Performance

Somnigroup International stock opened at $74.91 on Wednesday. The firm has a market cap of $15.76 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. Somnigroup International Inc. has a 52-week low of $60.39 and a 52-week high of $98.56. The company has a quick ratio of 0.38, a current ratio of 0.78 and a debt-to-equity ratio of 1.41. The company’s 50 day moving average is $72.64 and its two-hundred day moving average is $82.33.

Somnigroup International (NYSE:SGI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Somnigroup International had a net margin of 6.80% and a return on equity of 19.62%. The business had revenue of $1.80 billion for the quarter. During the same quarter in the previous year, the business posted $0.49 earnings per share. Somnigroup International’s revenue for the quarter was up 12.3% compared to the same quarter last year. Somnigroup International has set its FY 2026 guidance at 3.000-3.400 EPS. On average, research analysts expect that Somnigroup International Inc. will post 3.15 EPS for the current fiscal year.

Somnigroup International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, May 21st. Somnigroup International’s dividend payout ratio (DPR) is presently 27.76%.

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.