Olstein Capital Management L.P. raised its stake in Scripps Networks Interactive Inc. (NASDAQ:SNI) by 23.4% during the third quarter, Holdings Channel reports. The firm owned 116,000 shares of the company’s stock after buying an additional 22,000 shares during the period. Olstein Capital Management L.P.’s holdings in Scripps Networks Interactive were worth $7,365,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Legal & General Group Plc boosted its position in shares of Scripps Networks Interactive by 0.6% in the first quarter. Legal & General Group Plc now owns 322,186 shares of the company’s stock worth $21,103,000 after buying an additional 2,024 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Scripps Networks Interactive by 49.5% in the first quarter. Envestnet Asset Management Inc. now owns 25,699 shares of the company’s stock worth $1,683,000 after buying an additional 8,505 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Scripps Networks Interactive by 8.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,818 shares of the company’s stock worth $513,000 after buying an additional 601 shares during the last quarter. Barnett & Company Inc. purchased a new position in shares of Scripps Networks Interactive during the first quarter worth $177,000. Finally, NEXT Financial Group Inc boosted its position in shares of Scripps Networks Interactive by 17.8% in the second quarter. NEXT Financial Group Inc now owns 1,988 shares of the company’s stock worth $123,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 66.99% of the company’s stock.

Institutional Ownership by Quarter for Scripps Networks Interactive (NASDAQ:SNI)

Shares of Scripps Networks Interactive Inc. (NASDAQ:SNI) traded up 1.00% during trading on Tuesday, reaching $69.71. The company’s stock had a trading volume of 731,926 shares. The company’s 50-day moving average price is $65.89 and its 200 day moving average price is $64.28. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 11.52 and a beta of 1.12. Scripps Networks Interactive Inc. has a 1-year low of $50.81 and a 1-year high of $73.71.

Scripps Networks Interactive (NASDAQ:SNI) last released its quarterly earnings results on Monday, November 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.31. Scripps Networks Interactive had a net margin of 23.37% and a return on equity of 34.21%. The company earned $803.10 million during the quarter, compared to analysts’ expectations of $794.62 million. During the same period in the prior year, the company earned $1.06 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. Analysts anticipate that Scripps Networks Interactive Inc. will post $5.23 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Wednesday, November 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Monday, November 28th. Scripps Networks Interactive’s dividend payout ratio (DPR) is 16.53%.

WARNING: This article was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The original version of this article can be read at http://www.dailypolitical.com/2016/11/29/olstein-capital-management-l-p-boosts-position-in-scripps-networks-interactive-inc-sni.html.

A number of research analysts recently weighed in on SNI shares. Zacks Investment Research cut Scripps Networks Interactive from a “hold” rating to a “sell” rating in a report on Wednesday, October 19th. Moffett Nathanson cut Scripps Networks Interactive from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $71.00 to $52.00 in a research note on Tuesday, September 27th. Jefferies Group restated a “hold” rating on shares of Scripps Networks Interactive in a research note on Thursday, August 25th. Bank of America Corp. cut Scripps Networks Interactive from a “neutral” rating to an “underperform” rating and set a $66.00 price objective on the stock. in a research note on Thursday, October 27th. Finally, Argus restated a “buy” rating and set a $100.00 price objective on shares of Scripps Networks Interactive in a research note on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $68.73.

In other news, major shareholder Virginia S. Vasquez sold 200,000 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $69.58, for a total transaction of $13,916,000.00. Following the completion of the transaction, the insider now owns 279,797 shares of the company’s stock, valued at $19,468,275.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Eva Scripps Attal sold 500,000 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $69.15, for a total transaction of $34,575,000.00. Following the transaction, the insider now directly owns 319,454 shares of the company’s stock, valued at approximately $22,090,244.10. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.

About Scripps Networks Interactive

Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content for linear and interactive video platforms, including television and the Internet brands. The Company’s segments include U.S. Networks, International Networks, and Corporate and Other. Its U.S. Networks segment includes its approximately six national television networks: HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and Great American Country.

5 Day Chart for NASDAQ:SNI

Want to see what other hedge funds are holding SNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scripps Networks Interactive Inc. (NASDAQ:SNI).

Receive News & Ratings for Scripps Networks Interactive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scripps Networks Interactive Inc. and related companies with MarketBeat.com's FREE daily email newsletter.