Commerce Bank Purchases Shares of 8,530 Somnigroup International Inc. $SGI

Commerce Bank acquired a new position in shares of Somnigroup International Inc. (NYSE:SGI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,530 shares of the company’s stock, valued at approximately $669,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quantinno Capital Management LP lifted its position in shares of Somnigroup International by 27.9% during the 1st quarter. Quantinno Capital Management LP now owns 154,491 shares of the company’s stock worth $11,420,000 after buying an additional 33,729 shares during the last quarter. Renaissance Technologies LLC raised its stake in Somnigroup International by 193.4% during the first quarter. Renaissance Technologies LLC now owns 494,100 shares of the company’s stock worth $36,524,000 after acquiring an additional 325,700 shares in the last quarter. Argent Capital Management LLC lifted its holdings in shares of Somnigroup International by 51.1% in the first quarter. Argent Capital Management LLC now owns 91,161 shares of the company’s stock worth $6,739,000 after acquiring an additional 30,839 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Somnigroup International by 62.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,046,320 shares of the company’s stock valued at $224,240,000 after purchasing an additional 1,171,485 shares in the last quarter. Finally, Emmett Investment Management LP grew its holdings in shares of Somnigroup International by 26.5% during the 1st quarter. Emmett Investment Management LP now owns 95,825 shares of the company’s stock valued at $7,054,000 after purchasing an additional 20,075 shares during the last quarter. 99.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SGI has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Somnigroup International in a research report on Monday, July 27th. They set an “overweight” rating and a $95.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and set a $95.00 target price (down from $102.00) on shares of Somnigroup International in a research note on Friday, August 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Somnigroup International in a report on Friday, August 21st. Wall Street Zen cut Somnigroup International from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Truist Financial dropped their price target 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. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.50.

Somnigroup International Trading Down 1.8%

Shares of NYSE SGI opened at $62.95 on Thursday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.37 and a current ratio of 0.75. Somnigroup International Inc. has a 52-week low of $60.39 and a 52-week high of $98.56. The firm has a 50 day moving average price of $70.75 and a two-hundred day moving average price of $74.94. The stock has a market cap of $13.24 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 1.44 and a beta of 1.20.

Somnigroup International (NYSE:SGI) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.58 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.58. The firm 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%. Somnigroup International’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. Somnigroup International has set its FY 2026 guidance at 2.850-3.150 EPS. As a group, equities analysts forecast that Somnigroup International Inc. will post 3.02 EPS for the current year.

Somnigroup International Dividend Announcement

The business 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 dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 20th. Somnigroup International’s dividend payout ratio (DPR) is currently 27.20%.

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.