Scripps Networks Interactive, Inc (NASDAQ:SNI) Stock Rating Upgraded by Citigroup Inc.

Citigroup Inc. upgraded shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) from a sell rating to a neutral rating in a research report sent to investors on Tuesday, August 1st, Marketbeat.com reports. Citigroup Inc. currently has $90.00 target price on the stock, up from their previous target price of $66.00.

Several other equities research analysts have also commented on SNI. Needham & Company LLC lowered Scripps Networks Interactive from a buy rating to a hold rating in a research report on Monday, July 31st. Moffett Nathanson upgraded Scripps Networks Interactive from a sell rating to a neutral rating and upped their target price for the company from $61.00 to $87.00 in a research report on Monday, July 31st. Gabelli restated a buy rating on shares of Scripps Networks Interactive in a research report on Thursday, July 27th. Zacks Investment Research upgraded Scripps Networks Interactive from a sell rating to a hold rating in a research report on Tuesday, July 25th. Finally, MKM Partners restated a neutral rating and set a $73.00 target price (down previously from $84.00) on shares of Scripps Networks Interactive in a research report on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Scripps Networks Interactive currently has an average rating of Hold and a consensus target price of $83.31.

Scripps Networks Interactive (NASDAQ SNI) opened at 85.67 on Tuesday. Scripps Networks Interactive has a one year low of $59.32 and a one year high of $88.45. The company has a market cap of $11.12 billion, a PE ratio of 17.68 and a beta of 1.49. The firm’s 50-day moving average price is $79.09 and its 200-day moving average price is $75.04.

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The company also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Thursday, August 31st will be issued a $0.30 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.20 annualized dividend and a yield of 1.40%. Scripps Networks Interactive’s payout ratio is currently 24.79%.

In other news, Director Jeffrey Sagansky sold 1,159 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $87.83, for a total value of $101,794.97. Following the transaction, the director now owns 9,457 shares in the company, valued at $830,608.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Edward W. Scripps sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $66.96, for a total value of $20,088,000.00. Following the completion of the transaction, the insider now owns 232,071 shares in the company, valued at approximately $15,539,474.16. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of 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 buying an additional 6,979,918 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Scripps Networks Interactive by 1,107.7% in the second quarter. Alliancebernstein L.P. now owns 2,084,212 shares of the company’s stock worth $142,373,000 after buying an additional 1,911,635 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Scripps Networks Interactive by 312.1% in the second quarter. Renaissance Technologies LLC now owns 1,293,300 shares of the company’s stock worth $88,345,000 after buying an additional 979,500 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Scripps Networks Interactive by 319.1% in the second quarter. JPMorgan Chase & Co. now owns 1,224,046 shares of the company’s stock worth $83,614,000 after buying an additional 931,958 shares during the last quarter. Finally, FMR LLC increased its stake in Scripps Networks Interactive by 24.6% in the second quarter. FMR LLC now owns 3,371,082 shares of the company’s stock worth $230,278,000 after buying an additional 665,805 shares in the last quarter. 70.64% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Scripps Networks Interactive (NASDAQ:SNI)

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