Alliancebernstein L.P. boosted its stake in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) by 1,107.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,084,212 shares of the company’s stock after purchasing an additional 1,911,635 shares during the quarter. Alliancebernstein L.P. owned about 1.61% of Scripps Networks Interactive worth $142,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in Scripps Networks Interactive by 93.9% in the first quarter. SG Americas Securities LLC now owns 40,921 shares of the company’s stock worth $3,207,000 after acquiring an additional 19,812 shares in the last quarter. Soros Fund Management LLC acquired a new stake in Scripps Networks Interactive in the first quarter worth about $4,945,000. LMR Partners LLP acquired a new stake in Scripps Networks Interactive in the second quarter worth about $1,380,000. BlackRock Inc. boosted its holdings in Scripps Networks Interactive by 4,188.7% in the first quarter. BlackRock Inc. now owns 7,146,555 shares of the company’s stock worth $560,078,000 after acquiring an additional 6,979,918 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in Scripps Networks Interactive by 21.2% in the first quarter. State of Wisconsin Investment Board now owns 54,509 shares of the company’s stock worth $4,272,000 after acquiring an additional 9,529 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.
SNI has been the subject of several recent analyst reports. Gabelli reissued a “buy” rating on shares of Scripps Networks Interactive in a report on Thursday, July 27th. Morgan Stanley raised their price target on Scripps Networks Interactive from $82.00 to $90.00 and gave the stock an “equal weight” rating in a report on Thursday, August 24th. Jefferies Group LLC reissued a “hold” rating and issued a $76.00 price target on shares of Scripps Networks Interactive in a report on Monday, May 15th. Needham & Company LLC downgraded Scripps Networks Interactive from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Royal Bank Of Canada set a $76.00 price target on Scripps Networks Interactive and gave the stock a “hold” rating in a report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $84.20.
Scripps Networks Interactive, Inc (SNI) opened at 85.47 on Friday. The company’s 50-day moving average price is $85.70 and its 200 day moving average price is $75.97. The stock has a market capitalization of $11.10 billion, a PE ratio of 17.64 and a beta of 1.47. Scripps Networks Interactive, Inc has a 12 month low of $59.32 and a 12 month high of $88.45.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Investors of record on Thursday, August 31st will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.40%. Scripps Networks Interactive’s dividend payout ratio (DPR) is presently 24.79%.
In other Scripps Networks Interactive news, Director Jeffrey Sagansky sold 1,159 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $87.83, for a total transaction of $101,794.97. Following the completion of the sale, the director now directly owns 9,457 shares of the company’s stock, valued at approximately $830,608.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is owned by corporate insiders.
About Scripps Networks Interactive
Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content, providing primarily home, food, travel and other lifestyle-related programing. The Company’s content is distributed through multiple methods, including television, the Internet, digital platforms and licensing arrangements.
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