State Treasurer State of Michigan Raises Position in Scripps Networks Interactive, Inc (SNI)

State Treasurer State of Michigan boosted its stake in shares of Scripps Networks Interactive, Inc (NASDAQ:SNI) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,523 shares of the company’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in Scripps Networks Interactive were worth $2,153,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Contravisory Investment Management Inc. increased its position in shares of Scripps Networks Interactive by 68.5% in the first quarter. Contravisory Investment Management Inc. now owns 1,586 shares of the company’s stock valued at $124,000 after buying an additional 645 shares during the last quarter. James Investment Research Inc. bought a new position in Scripps Networks Interactive during the first quarter worth $147,000. Mascoma Wealth Management LLC bought a new position in Scripps Networks Interactive during the second quarter worth $130,000. SRS Capital Advisors Inc. increased 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 worth $168,000 after buying an additional 252 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased 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 worth $159,000 after buying an additional 138 shares in the last quarter. 70.64% of the stock is currently owned by institutional investors and hedge funds.

Shares of Scripps Networks Interactive, Inc (NASDAQ SNI) opened at 85.67 on Friday. Scripps Networks Interactive, Inc has a 12 month low of $59.32 and a 12 month high of $88.45. The company has a 50-day moving average of $79.09 and a 200 day moving average of $75.04. The company has a market capitalization of $11.12 billion, a P/E ratio of 17.68 and a beta of 1.49.

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 is Tuesday, August 29th. This represents a $1.20 dividend on an annualized basis and a yield of 1.40%. Scripps Networks Interactive’s payout ratio is presently 24.79%.

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SNI has been the topic of a number of recent analyst reports. Royal Bank Of Canada reaffirmed a “hold” rating and set a $87.00 price target on shares of Scripps Networks Interactive in a research note on Monday, April 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $76.00 price target on shares of Scripps Networks Interactive in a research note on Friday, April 28th. J P Morgan Chase & Co raised shares of Scripps Networks Interactive from an “underweight” rating to a “neutral” rating and set a $83.00 price objective for the company in a research report on Friday, May 5th. Moffett Nathanson reissued a “sell” rating on shares of Scripps Networks Interactive in a research report on Friday, June 9th. Finally, Zacks Investment Research lowered shares of Scripps Networks Interactive from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average 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 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 completion of the sale, the director now directly owns 9,457 shares of the company’s stock, valued at approximately $830,608.31. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Edward W. Scripps sold 300,000 shares of the 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 sale, the insider now directly owns 232,071 shares of the company’s stock, valued at $15,539,474.16. The disclosure for this sale can be found here. Corporate insiders own 2.50% of the company’s stock.

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.

Institutional Ownership by Quarter for Scripps Networks Interactive (NASDAQ:SNI)

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