Hsbc Holdings PLC Has $5.69 Million Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Hsbc Holdings PLC grew its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 35.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,925 shares of the basic materials company’s stock after acquiring an additional 23,060 shares during the quarter. Hsbc Holdings PLC owned 0.15% of Scotts Miracle-Gro worth $5,687,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Hexagon Capital Partners LLC boosted its holdings in shares of Scotts Miracle-Gro by 41.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock valued at $36,000 after buying an additional 161 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Scotts Miracle-Gro by 80.1% in the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock valued at $25,000 after buying an additional 173 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Scotts Miracle-Gro by 4.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,944 shares of the basic materials company’s stock valued at $251,000 after buying an additional 174 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Scotts Miracle-Gro by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 18,313 shares of the basic materials company’s stock valued at $1,167,000 after buying an additional 180 shares during the last quarter. Finally, Rise Advisors LLC boosted its holdings in shares of Scotts Miracle-Gro by 135.2% in the 1st quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock valued at $25,000 after buying an additional 192 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SMG. Wells Fargo & Company increased their price target on Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their price target on Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $80.00.

Scotts Miracle-Gro Trading Up 4.2 %

SMG opened at $81.21 on Wednesday. The stock has a market cap of $4.61 billion, a PE ratio of -13.01 and a beta of 1.75. The stock’s fifty day simple moving average is $70.76 and its 200 day simple moving average is $68.90. The Scotts Miracle-Gro Company has a 1-year low of $43.67 and a 1-year high of $82.11.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.42. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.17 EPS. Equities analysts forecast that The Scotts Miracle-Gro Company will post 2.62 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Friday, August 23rd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -42.31%.

Insider Transactions at Scotts Miracle-Gro

In other news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the sale, the insider now directly owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Nathan Eric Baxter sold 2,988 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $211,938.84. Following the sale, the chief operating officer now directly owns 37,920 shares of the company’s stock, valued at $2,689,665.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the completion of the sale, the insider now directly owns 13,608,238 shares in the company, valued at $965,232,321.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,078 shares of company stock valued at $6,325,042. 26.46% of the stock is owned by corporate insiders.

About Scotts Miracle-Gro

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.