World Asset Management Inc bought a new stake in Scotts Miracle-Gro Co (NYSE:SMG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,626 shares of the basic materials company’s stock, valued at approximately $219,000.
Other institutional investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at approximately $2,654,000. Rockefeller Capital Management L.P. increased its position in shares of Scotts Miracle-Gro by 392.0% in the 1st quarter. Rockefeller Capital Management L.P. now owns 246 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 196 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of Scotts Miracle-Gro in the 1st quarter valued at approximately $27,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Scotts Miracle-Gro by 62.8% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 311 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 120 shares during the last quarter. Finally, Harbor Investment Advisory LLC increased its position in shares of Scotts Miracle-Gro by 192.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 351 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 231 shares during the last quarter. 63.07% of the stock is currently owned by institutional investors and hedge funds.
SMG has been the subject of several research analyst reports. TheStreet upgraded shares of Scotts Miracle-Gro from a “c+” rating to a “b” rating in a report on Wednesday, May 6th. Raymond James cut shares of Scotts Miracle-Gro from a “strong-buy” rating to a “market perform” rating and set a $152.00 target price for the company. in a report on Tuesday, May 26th. SunTrust Banks upped their target price on shares of Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. Finally, William Blair restated a “buy” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 9th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $128.50.
Shares of NYSE:SMG opened at $158.57 on Friday. The stock has a market cap of $8.80 billion, a P/E ratio of 27.82 and a beta of 0.93. The firm has a fifty day moving average price of $137.83 and a 200 day moving average price of $123.79. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.61 and a quick ratio of 1.32. Scotts Miracle-Gro Co has a 1-year low of $76.50 and a 1-year high of $167.46.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.37 by $0.43. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. Scotts Miracle-Gro’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.11 EPS. Sell-side analysts expect that Scotts Miracle-Gro Co will post 6.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 27th will be paid a dividend of $0.62 per share. The ex-dividend date is Wednesday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.56%. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. Scotts Miracle-Gro’s dividend payout ratio is currently 51.90%.
In other Scotts Miracle-Gro news, Director Adam Hanft sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $138.00, for a total transaction of $414,000.00. Following the completion of the transaction, the director now owns 30,445 shares in the company, valued at approximately $4,201,410. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 101,171 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $131.08, for a total transaction of $13,261,494.68. Following the transaction, the insider now owns 15,020,316 shares of the company’s stock, valued at approximately $1,968,863,021.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 250,442 shares of company stock valued at $33,190,830. 28.20% of the stock is owned by company insiders.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.
Want to see what other hedge funds are holding SMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scotts Miracle-Gro Co (NYSE:SMG).
Receive News & Ratings for Scotts Miracle-Gro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scotts Miracle-Gro and related companies with MarketBeat.com's FREE daily email newsletter.