BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Scripps Networks Interactive, Inc (NASDAQ:SNI) by 199.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,728 shares of the company’s stock after buying an additional 73,081 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.11% of Scripps Networks Interactive worth $7,496,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNI. James Investment Research Inc. purchased a new position in Scripps Networks Interactive during the first quarter valued at $147,000. Mascoma Wealth Management LLC purchased a new position in Scripps Networks Interactive during the second quarter valued at $130,000. SRS Capital Advisors Inc. raised its position in Scripps Networks Interactive by 13.3% in the first quarter. SRS Capital Advisors Inc. now owns 2,152 shares of the company’s stock valued at $168,000 after buying an additional 252 shares during the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Scripps Networks Interactive by 6.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,175 shares of the company’s stock valued at $159,000 after buying an additional 138 shares during the last quarter. Finally, Assetmark Inc. raised its position in Scripps Networks Interactive by 2.7% in the first quarter. Assetmark Inc. now owns 2,542 shares of the company’s stock valued at $199,000 after buying an additional 67 shares during the last quarter. 70.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of Scripps Networks Interactive, Inc (SNI) opened at 85.67 on Friday. The stock has a 50 day moving average of $79.09 and a 200-day moving average of $75.04. The firm has a market capitalization of $11.12 billion, a P/E ratio of 17.68 and a beta of 1.49. 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. Stockholders of record on Thursday, August 31st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, August 29th. Scripps Networks Interactive’s payout ratio is 24.79%.
SNI has been the topic of several research analyst reports. Royal Bank Of Canada raised their target price on shares of Scripps Networks Interactive from $76.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday. Argus downgraded shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Citigroup Inc. upgraded shares of Scripps Networks Interactive from a “sell” rating to a “neutral” rating and raised their target price for the stock from $66.00 to $90.00 in a report on Tuesday, August 1st. UBS AG restated a “neutral” rating and set a $90.00 target price (up from $83.00) on shares of Scripps Networks Interactive in a report on Tuesday, August 1st. Finally, Needham & Company LLC downgraded shares of Scripps Networks Interactive from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $83.31.
In other news, Director Jeffrey Sagansky sold 1,159 shares of the company’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 transaction of $101,794.97. Following the transaction, the director now directly owns 9,457 shares of the company’s stock, valued at $830,608.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Edward W. Scripps sold 300,000 shares of the company’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 transaction, the insider now directly owns 232,071 shares in the company, valued at $15,539,474.16. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
Scripps Networks Interactive Company Profile
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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