Grimes & Company Inc. increased its stake in Scripps Networks Interactive Inc. (NASDAQ:SNI) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,259 shares of the company’s stock after buying an additional 674 shares during the period. Grimes & Company Inc. owned 0.06% of Scripps Networks Interactive worth $4,437,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Winslow Evans & Crocker Inc. raised its stake in shares of Scripps Networks Interactive by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,808 shares of the company’s stock valued at $113,000 after buying an additional 51 shares during the last quarter. NEXT Financial Group Inc raised its stake in shares of Scripps Networks Interactive by 17.8% in the second quarter. NEXT Financial Group Inc now owns 1,988 shares of the company’s stock valued at $123,000 after buying an additional 300 shares during the last quarter. Barnett & Company Inc. acquired a new stake in shares of Scripps Networks Interactive during the first quarter valued at approximately $177,000. Sentry Investment Management LLC raised its stake in shares of Scripps Networks Interactive by 76.9% in the first quarter. Sentry Investment Management LLC now owns 3,099 shares of the company’s stock valued at $203,000 after buying an additional 1,347 shares during the last quarter. Finally, FDO Partners LLC acquired a new stake in shares of Scripps Networks Interactive during the first quarter valued at approximately $214,000. 66.39% of the stock is currently owned by hedge funds and other institutional investors.

Scripps Networks Interactive Inc. (NASDAQ:SNI) traded down 0.73% during midday trading on Tuesday, reaching $59.67. The company’s stock had a trading volume of 844,979 shares. The company has a 50 day moving average price of $63.47 and a 200 day moving average price of $64.12. Scripps Networks Interactive Inc. has a 1-year low of $47.62 and a 1-year high of $68.44. The firm has a market cap of $7.70 billion, a price-to-earnings ratio of 10.13 and a beta of 1.24.

Scripps Networks Interactive (NASDAQ:SNI) last issued its earnings results on Tuesday, August 9th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. The business earned $892.80 million during the quarter, compared to the consensus estimate of $893.46 million. Scripps Networks Interactive had a return on equity of 35.33% and a net margin of 22.91%. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.47 EPS. On average, equities research analysts expect that Scripps Networks Interactive Inc. will post $5.16 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, August 29th. Scripps Networks Interactive’s dividend payout ratio (DPR) is 16.98%.

Several brokerages have commented on SNI. Jefferies Group dropped their price objective on Scripps Networks Interactive from $69.00 to $67.00 and set a “hold” rating on the stock in a report on Wednesday, August 10th. Argus reaffirmed a “buy” rating and issued a $100.00 price target on shares of Scripps Networks Interactive in a research note on Tuesday, August 16th. Stifel Nicolaus raised Scripps Networks Interactive from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, July 20th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Scripps Networks Interactive in a research note on Friday, July 8th. Finally, MKM Partners reaffirmed a “hold” rating on shares of Scripps Networks Interactive in a research note on Monday, July 18th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. Scripps Networks Interactive presently has a consensus rating of “Hold” and an average target price of $69.73.

In related news, major shareholder Edward W. Scripps sold 45,190 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $62.17, for a total value of $2,809,462.30. Following the sale, the insider now owns 130,000 shares in the company, valued at approximately $8,082,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Julia Scripps Heidt sold 152,863 shares of the company’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $60.44, for a total value of $9,239,039.72. Following the completion of the sale, 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.

Scripps Networks Interactive Company Profile

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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