Johnson Investment Counsel Inc. Invests $1.60 Million in Sleep Number Co. (NASDAQ:SNBR)

Johnson Investment Counsel Inc. purchased a new position in shares of Sleep Number Co. (NASDAQ:SNBR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,530 shares of the company’s stock, valued at approximately $1,598,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its holdings in Sleep Number by 14.0% in the second quarter. Alliancebernstein L.P. now owns 1,058,913 shares of the company’s stock valued at $116,427,000 after purchasing an additional 129,822 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Sleep Number by 23.5% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 633,847 shares of the company’s stock valued at $69,691,000 after purchasing an additional 120,788 shares during the period. Kempen Capital Management N.V. raised its stake in Sleep Number by 71.8% in the second quarter. Kempen Capital Management N.V. now owns 344,122 shares of the company’s stock valued at $37,836,000 after buying an additional 143,834 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Sleep Number by 28.4% in the first quarter. JPMorgan Chase & Co. now owns 260,230 shares of the company’s stock valued at $37,341,000 after buying an additional 57,608 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Sleep Number by 24.5% in the second quarter. Principal Financial Group Inc. now owns 230,221 shares of the company’s stock valued at $25,313,000 after buying an additional 45,319 shares in the last quarter. Institutional investors and hedge funds own 95.81% of the company’s stock.

A number of research firms have weighed in on SNBR. Zacks Investment Research cut Sleep Number from a “buy” rating to a “hold” rating in a research note on Thursday, September 16th. TheStreet cut Sleep Number from a “c+” rating to a “d-” rating in a research note on Tuesday, July 20th. Finally, Piper Sandler restated an “overweight” rating and issued a $135.00 price target (down from $165.00) on shares of Sleep Number in a research note on Wednesday, July 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Sleep Number has an average rating of “Hold” and a consensus target price of $121.80.

SNBR opened at $84.95 on Thursday. The business’s 50-day simple moving average is $95.58 and its 200-day simple moving average is $106.51. Sleep Number Co. has a one year low of $56.75 and a one year high of $151.44. The stock has a market capitalization of $2.01 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 0.94 and a beta of 1.93.

Sleep Number (NASDAQ:SNBR) last posted its earnings results on Monday, July 19th. The company reported $0.88 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.29). The firm had revenue of $484.32 million for the quarter, compared to analyst estimates of $506.25 million. Sleep Number had a negative return on equity of 75.84% and a net margin of 9.37%. The firm’s revenue for the quarter was up 70.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.45) EPS. As a group, equities research analysts forecast that Sleep Number Co. will post 7.28 earnings per share for the current fiscal year.

Sleep Number Company Profile

Sleep Number Corp. designs, manufactures, markets, and distributes beds, proprietary beds, and other sleep-related accessory products. It offers beds under the brand name Sleep Number. The company was founded by Robert Walker and JoAnn Walker in 1987 and is headquartered in Minneapolis, MN.

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Institutional Ownership by Quarter for Sleep Number (NASDAQ:SNBR)

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