Cobblestone Capital Advisors LLC NY lowered its stake in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) by 58.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,838 shares of the company’s stock after selling 5,460 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Scripps Networks Interactive were worth $262,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted 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 valued at $560,078,000 after buying an additional 6,979,918 shares in the last quarter. Smead Capital Management Inc. boosted its stake in Scripps Networks Interactive by 199.0% in the second quarter. Smead Capital Management Inc. now owns 910,817 shares of the company’s stock valued at $62,218,000 after buying an additional 606,218 shares in the last quarter. Ardevora Asset Management LLP acquired a new stake in Scripps Networks Interactive during the second quarter valued at $36,286,000. Pioneer Investment Management Inc. boosted its stake in Scripps Networks Interactive by 20.9% in the second quarter. Pioneer Investment Management Inc. now owns 2,288,068 shares of the company’s stock valued at $156,298,000 after buying an additional 396,253 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its stake in Scripps Networks Interactive by 114.5% in the first quarter. WINTON GROUP Ltd now owns 670,023 shares of the company’s stock valued at $42,540,000 after buying an additional 357,704 shares in the last quarter. Institutional investors own 70.64% of the company’s stock.
Scripps Networks Interactive, Inc (NASDAQ SNI) opened at 85.75 on Wednesday. Scripps Networks Interactive, Inc has a one year low of $59.32 and a one year high of $88.45. The company has a market capitalization of $11.13 billion, a PE ratio of 17.70 and a beta of 1.49. The firm’s 50 day moving average price is $79.59 and its 200-day moving average price is $75.10.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 10th. Stockholders of record on Thursday, August 31st will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Tuesday, August 29th. Scripps Networks Interactive’s dividend payout ratio (DPR) is presently 24.79%.
Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price objective on Scripps Networks Interactive from $76.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. Argus cut Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Citigroup Inc. raised Scripps Networks Interactive from a “sell” rating to a “neutral” rating and increased their price objective for the company from $66.00 to $90.00 in a research report on Tuesday, August 1st. UBS AG reissued a “neutral” rating and issued a $90.00 price objective (up from $83.00) on shares of Scripps Networks Interactive in a research report on Tuesday, August 1st. Finally, Needham & Company LLC cut Scripps Networks Interactive from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $83.31.
In related news, major shareholder Edward W. Scripps sold 300,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $66.96, for a total transaction of $20,088,000.00. Following the completion of the transaction, the insider now directly owns 232,071 shares in the company, valued at $15,539,474.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jeffrey Sagansky sold 1,159 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $830,608.31. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by 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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