Vanguard Group Inc. Increases Stake in The Scotts Miracle-Gro Company (NYSE:SMG)

Vanguard Group Inc. increased its holdings in The Scotts Miracle-Gro Company (NYSE:SMGFree Report) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,640,383 shares of the basic materials company’s stock after purchasing an additional 35,002 shares during the quarter. Vanguard Group Inc. owned 0.08% of Scotts Miracle-Gro worth $239,815,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SMG. JPMorgan Chase & Co. grew its holdings in shares of Scotts Miracle-Gro by 1.2% in the first quarter. JPMorgan Chase & Co. now owns 98,971 shares of the basic materials company’s stock worth $12,170,000 after purchasing an additional 1,158 shares during the last quarter. American Century Companies Inc. boosted its position in Scotts Miracle-Gro by 16.4% during the 1st quarter. American Century Companies Inc. now owns 4,319 shares of the basic materials company’s stock valued at $531,000 after buying an additional 609 shares during the period. Cetera Advisor Networks LLC grew its holdings in Scotts Miracle-Gro by 33.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 3,397 shares of the basic materials company’s stock worth $418,000 after acquiring an additional 846 shares during the last quarter. Citigroup Inc. increased its position in shares of Scotts Miracle-Gro by 27.8% in the first quarter. Citigroup Inc. now owns 6,684 shares of the basic materials company’s stock valued at $822,000 after acquiring an additional 1,452 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Scotts Miracle-Gro by 4,946.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,473 shares of the basic materials company’s stock valued at $304,000 after acquiring an additional 2,424 shares during the last quarter. 74.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Hagedorn Partnership, L.P. sold 86,356 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $65.41, for a total transaction of $5,648,545.96. Following the sale, the director now directly owns 13,777,012 shares of the company’s stock, valued at $901,154,354.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Stephen L. Johnson sold 1,394 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $57.35, for a total value of $79,945.90. Following the completion of the sale, the director now owns 22,918 shares of the company’s stock, valued at $1,314,347.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 86,356 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $65.41, for a total value of $5,648,545.96. Following the completion of the transaction, the director now directly owns 13,777,012 shares in the company, valued at approximately $901,154,354.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,750 shares of company stock valued at $6,604,492. Corporate insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Stock Up 1.3 %

Shares of NYSE:SMG opened at $74.59 on Friday. The firm has a market capitalization of $4.23 billion, a P/E ratio of -10.60 and a beta of 1.69. The company has a debt-to-equity ratio of 19.50, a quick ratio of 0.67 and a current ratio of 2.20. The stock has a 50 day moving average price of $62.70 and a 200-day moving average price of $57.68. The Scotts Miracle-Gro Company has a 52-week low of $43.67 and a 52-week high of $78.25.

Scotts Miracle-Gro (NYSE:SMGGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The basic materials company reported ($1.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.62) by $0.17. Scotts Miracle-Gro had a negative net margin of 11.52% and a negative return on equity of 44.37%. The company had revenue of $410.40 million during the quarter, compared to analysts’ expectations of $412.83 million. During the same period last year, the company posted ($1.02) EPS. Scotts Miracle-Gro’s revenue was down 22.1% on a year-over-year basis. As a group, equities research analysts anticipate that The Scotts Miracle-Gro Company will post 2.65 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a dividend of $0.66 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.64 annualized dividend and a yield of 3.54%. Scotts Miracle-Gro’s dividend payout ratio is -37.50%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Raymond James restated a “market perform” rating on shares of Scotts Miracle-Gro in a report on Monday, March 25th. StockNews.com cut Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Monday, March 25th. Finally, Stifel Nicolaus raised their price target on Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Scotts Miracle-Gro presently has a consensus rating of “Hold” and a consensus target price of $69.29.

Get Our Latest Stock Report on SMG

Scotts Miracle-Gro Profile

(Free Report)

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells 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, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.

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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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