The Prudential Financial Inc. decides to keep it stake in Scripps Networks Interactive Inc. (SNI) to the level of $8,293,000

The Prudential Financial Inc. decides to keep it stake in Scripps Networks Interactive Inc. (SNI) to the level of $8,293,000

Prudential Financial Inc. increased its position in Scripps Networks Interactive Inc. (NASDAQ:SNI) by 13.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 133,181 shares of the company’s stock after buying an additional 15,400 shares during the period. Prudential Financial Inc. owned about 0.10% of Scripps Networks Interactive worth $8,293,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group boosted its position in Scripps Networks Interactive by 95.2% in the second quarter. Schroder Investment Management Group now owns 2,148,028 shares of the company’s stock valued at $133,758,000 after buying an additional 1,047,600 shares in the last quarter. Boston Partners boosted its position in Scripps Networks Interactive by 2,097.4% in the second quarter. Boston Partners now owns 1,407,636 shares of the company’s stock valued at $87,653,000 after buying an additional 1,343,577 shares in the last quarter. Wellington Management Group LLP boosted its position in Scripps Networks Interactive by 144.7% in the first quarter. Wellington Management Group LLP now owns 1,068,220 shares of the company’s stock valued at $69,969,000 after buying an additional 631,753 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in Scripps Networks Interactive by 76.7% in the first quarter. TIAA CREF Investment Management LLC now owns 1,033,275 shares of the company’s stock valued at $67,680,000 after buying an additional 448,521 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Scripps Networks Interactive by 1.7% in the second quarter. Jennison Associates LLC now owns 1,015,796 shares of the company’s stock valued at $63,254,000 after buying an additional 17,328 shares in the last quarter. 66.35% of the stock is owned by institutional investors.

Scripps Networks Interactive Inc. (NASDAQ:SNI) traded down 1.76% on Friday, hitting $62.38. The stock had a trading volume of 768,691 shares. The firm has a market capitalization of $8.05 billion, a price-to-earnings ratio of 10.59 and a beta of 1.18. Scripps Networks Interactive Inc. has a 1-year low of $50.81 and a 1-year high of $68.44. The company’s 50 day moving average is $62.76 and its 200-day moving average is $63.94.

Scripps Networks Interactive (NASDAQ:SNI) last posted its earnings results on Tuesday, August 9th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The firm had revenue of $892.80 million for the quarter, compared to analysts’ expectations of $893.46 million. Scripps Networks Interactive had a net margin of 22.91% and a return on equity of 35.33%. The company’s revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.47 earnings per share. On average, analysts forecast that Scripps Networks Interactive Inc. will post $5.15 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.60%. Scripps Networks Interactive’s dividend payout ratio (DPR) is presently 16.98%.

SNI has been the topic of several research reports. Jefferies Group restated a “hold” rating and set a $69.00 price target on shares of Scripps Networks Interactive in a research note on Saturday, June 25th. Moffett Nathanson lowered Scripps Networks Interactive from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $71.00 to $52.00 in a research note on Tuesday, September 27th. Citigroup Inc. lowered their price objective on Scripps Networks Interactive from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Scripps Networks Interactive in a research note on Friday, June 17th. Finally, Evercore ISI lowered Scripps Networks Interactive from a “buy” rating to a “hold” rating and set a $68.00 price objective on the stock. in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. Scripps Networks Interactive has an average rating of “Hold” and a consensus price target of $68.73.

In other news, major shareholder Cynthia J. Scripps sold 95,000 shares of Scripps Networks Interactive stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $63.17, for a total transaction of $6,001,150.00. Following the transaction, the insider now owns 65,706 shares in the company, valued at $4,150,648.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Julia Scripps Heidt sold 152,863 shares of Scripps Networks Interactive stock in a transaction on Friday, September 16th. The stock was sold at an average price of $60.44, for a total transaction of $9,239,039.72. Following the transaction, the insider now owns 208,766 shares in the company, valued at approximately $12,617,817.04. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

About Scripps Networks Interactive

Scripps Networks Interactive, Inc is a developer of lifestyle-oriented content for linear and interactive video platforms, including television and the Internet brands. The Company’s segments include U.S. Networks, International Networks, and Corporate and Other. Its U.S. Networks segment includes its approximately six national television networks: HGTV, Food Network, Travel Channel, DIY Network, Cooking Channel and Great American Country.

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