Commonwealth Equity Services LLC boosted its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG – Free Report) by 21.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,871 shares of the basic materials company’s stock after purchasing an additional 8,198 shares during the period. Commonwealth Equity Services LLC owned approximately 0.08% of Scotts Miracle-Gro worth $3,199,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in SMG. JFS Wealth Advisors LLC grew its position in shares of Scotts Miracle-Gro by 24.8% in the 4th quarter. JFS Wealth Advisors LLC now owns 725 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 144 shares in the last quarter. Yousif Capital Management LLC lifted its stake in Scotts Miracle-Gro by 0.8% during the first quarter. Yousif Capital Management LLC now owns 21,656 shares of the basic materials company’s stock worth $2,663,000 after purchasing an additional 170 shares during the last quarter. Prudential Financial Inc. increased its stake in Scotts Miracle-Gro by 1.9% during the first quarter. Prudential Financial Inc. now owns 9,487 shares of the basic materials company’s stock valued at $1,166,000 after purchasing an additional 173 shares during the last quarter. Aigen Investment Management LP increased its stake in Scotts Miracle-Gro by 3.0% during the fourth quarter. Aigen Investment Management LP now owns 5,933 shares of the basic materials company’s stock valued at $288,000 after purchasing an additional 174 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Scotts Miracle-Gro by 5.7% during the 2nd quarter. Captrust Financial Advisors now owns 3,314 shares of the basic materials company’s stock valued at $262,000 after buying an additional 178 shares during the last quarter. Institutional investors and hedge funds own 70.10% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on SMG shares. Raymond James cut their target price on shares of Scotts Miracle-Gro from $86.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 3rd. Stifel Nicolaus lowered their price objective on Scotts Miracle-Gro from $68.00 to $55.00 and set a “hold” rating for the company in a research note on Monday, August 7th. StockNews.com began coverage on shares of Scotts Miracle-Gro in a report on Thursday, August 17th. They set a “hold” rating for the company. JPMorgan Chase & Co. raised shares of Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and set a $80.00 price objective on the stock in a report on Monday, May 8th. Finally, Wells Fargo & Company cut their price target on Scotts Miracle-Gro from $75.00 to $65.00 in a report on Friday, August 4th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.29.
In related news, CEO James Hagedorn sold 6,451 shares of Scotts Miracle-Gro stock in a transaction on Monday, August 7th. The stock was sold at an average price of $55.43, for a total value of $357,578.93. Following the transaction, the chief executive officer now directly owns 125,065 shares in the company, valued at approximately $6,932,352.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Hagedorn Partnership, L.P. sold 23,685 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $49.64, for a total value of $1,175,723.40. Following the completion of the sale, the insider now owns 13,970,295 shares in the company, valued at approximately $693,485,443.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Hagedorn sold 6,451 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $55.43, for a total transaction of $357,578.93. Following the transaction, the chief executive officer now owns 125,065 shares in the company, valued at $6,932,352.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,480 shares of company stock worth $6,655,981. Insiders own 27.28% of the company’s stock.
Scotts Miracle-Gro Trading Down 2.9 %
Shares of Scotts Miracle-Gro stock opened at $55.03 on Tuesday. The business has a fifty day simple moving average of $60.22 and a 200-day simple moving average of $67.01. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -22.65 and a beta of 1.65. The Scotts Miracle-Gro Company has a fifty-two week low of $39.06 and a fifty-two week high of $88.61. The company has a quick ratio of 1.03, a current ratio of 1.69 and a debt-to-equity ratio of 19.50.
Scotts Miracle-Gro (NYSE:SMG – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.41 by ($0.24). Scotts Miracle-Gro had a negative net margin of 3.59% and a positive return on equity of 91.85%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business posted $1.98 EPS. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, equities analysts forecast that The Scotts Miracle-Gro Company will post 1.14 EPS for the current fiscal year.
Scotts Miracle-Gro Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 25th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $2.64 annualized dividend and a dividend yield of 4.80%. Scotts Miracle-Gro’s dividend payout ratio is currently -108.64%.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company is involved in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products comprising water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.
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