UBS AG reaffirmed their neutral rating on shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) in a research note released on Tuesday, August 1st, www.flashratings.com reports. The firm currently has a $90.00 price objective on the stock, up from their previous price objective of $83.00.
Several other equities analysts also recently weighed in on SNI. Argus downgraded Scripps Networks Interactive from a buy rating to a hold rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reiterated a hold rating and set a $76.00 target price on shares of Scripps Networks Interactive in a research report on Monday, May 15th. Citigroup Inc. upgraded Scripps Networks Interactive from a sell rating to a neutral rating and lifted their target price for the company from $66.00 to $90.00 in a research report on Tuesday, August 1st. Needham & Company LLC downgraded Scripps Networks Interactive from a buy rating to a hold rating in a research report on Monday, July 31st. Finally, Jefferies Group LLC restated a hold rating and issued a $76.00 price objective on shares of Scripps Networks Interactive in a research report on Monday, May 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $83.31.
Shares of Scripps Networks Interactive (NASDAQ SNI) traded up 0.11% during mid-day trading on Tuesday, reaching $85.67. The company’s stock had a trading volume of 1,328,895 shares. The company has a 50-day moving average of $79.09 and a 200-day moving average of $75.04. The firm has a market cap of $11.12 billion, a PE ratio of 17.68 and a beta of 1.49. Scripps Networks Interactive has a 12 month low of $59.32 and a 12 month high of $88.45.
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The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 10th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.20 annualized dividend and a dividend yield of 1.40%. Scripps Networks Interactive’s dividend payout ratio (DPR) is presently 24.79%.
In related news, major shareholder Edward W. Scripps sold 300,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $66.96, for a total value of $20,088,000.00. Following the completion of the sale, the insider now owns 232,071 shares in the company, valued at $15,539,474.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey Sagansky sold 1,159 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $87.83, for a total value of $101,794.97. Following the completion of the sale, the director now owns 9,457 shares of the company’s stock, valued at approximately $830,608.31. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of SNI. BlackRock Inc. raised its stake 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 buying an additional 6,979,918 shares in the last quarter. Alliancebernstein L.P. raised its stake in 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 in the last quarter. Renaissance Technologies LLC raised its stake in 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 in the last quarter. JPMorgan Chase & Co. raised its stake in 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 in the last quarter. Finally, FMR LLC raised 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. Institutional investors own 70.64% of the company’s stock.
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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