Bullish indicating open at $55-$60, IPO prices at $37
LEXINGTON, Ky. - Somnigroup International Inc. (NYSE:SGI), a leading bedding company with a market capitalization of $12.64 billion, declared a quarterly cash dividend of $0.15 per share on Thursday. This dividend, representing a yield of 0.99%, is scheduled to be paid on June 5, 2025, to shareholders who are on record by May 22, 2025. According to InvestingPro, SGI has raised its dividend for four consecutive years, with a notable 36% growth in the last twelve months.
The company, known for its portfolio of well-known brands such as Tempur-Pedic®, Sealy®, and Stearns & Foster®, operates a vertically-integrated business model. This structure enables Somnigroup to oversee the entire process from design and manufacturing to distribution and retail. As a result, the company is able to offer innovative sleep solutions and a personalized retail experience to consumers in over 100 countries.
Somnigroup’s commitment to delivering value to its shareholders is reflected in its capital allocation strategies and the rigorous management of its business operations. The company emphasizes its core value of integrity and its dedication to environmental protection and community support.
This announcement is based on a press release statement and provides shareholders and potential investors with relevant financial information regarding the upcoming dividend distribution.
In other recent news, Somnigroup has garnered attention with several notable developments. Analysts are eagerly awaiting Somnigroup’s first-quarter earnings report, which is anticipated to shed light on the company’s performance and strategic initiatives. KeyBanc has maintained its Overweight rating on Somnigroup, setting a price target of $74, citing the company’s strategic partnerships and acquisition synergies as potential growth drivers. Meanwhile, Purple Innovation has announced an expansion of its relationship with Somnigroup, significantly increasing Purple’s presence in Mattress Firm stores, which could bolster Somnigroup’s market position.
Goldman Sachs has reinstated coverage of Somnigroup with a Neutral rating and a price target of $57, following the acquisition of Mattress Firm. The firm highlighted Somnigroup’s focus on debt reduction and its strategic growth efforts in a challenging demand environment. Raymond James has expressed confidence in Somnigroup by raising the stock’s price target to $67 and reiterating a Strong Buy rating, pointing to the company’s market share growth and manufacturing improvements.
Additionally, Somnigroup has made changes to its executive team, with Scott Vollet stepping down from his role as an executive officer as part of the company’s strategic realignment. These developments reflect Somnigroup’s ongoing efforts to strengthen its market position and drive long-term growth. Investors and analysts continue to monitor these changes as they assess the company’s future trajectory.
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