Prudential Financial Inc. cut its stake in shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,562 shares of the basic materials company’s stock after selling 1,196 shares during the quarter. Prudential Financial Inc.’s holdings in Scotts Miracle-Gro were worth $2,586,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in Scotts Miracle-Gro during the third quarter worth $487,000. Cadence Capital Management LLC boosted its stake in Scotts Miracle-Gro by 5.9% during the second quarter. Cadence Capital Management LLC now owns 5,511 shares of the basic materials company’s stock worth $493,000 after acquiring an additional 308 shares in the last quarter. Vanguard Group Inc. boosted its stake in Scotts Miracle-Gro by 1.0% during the second quarter. Vanguard Group Inc. now owns 3,882,566 shares of the basic materials company’s stock worth $347,335,000 after acquiring an additional 39,851 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in Scotts Miracle-Gro by 44.5% during the second quarter. Eagle Asset Management Inc. now owns 327,304 shares of the basic materials company’s stock worth $29,280,000 after acquiring an additional 100,743 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Scotts Miracle-Gro by 1.1% during the second quarter. Arizona State Retirement System now owns 18,600 shares of the basic materials company’s stock worth $1,664,000 after acquiring an additional 200 shares in the last quarter. 69.11% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on the stock. KeyCorp reissued a “hold” rating on shares of Scotts Miracle-Gro in a research note on Saturday, November 25th. Zacks Investment Research lowered shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Bank of America upped their price objective on shares of Scotts Miracle-Gro from $107.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 8th. SunTrust Banks restated a “hold” rating and set a $95.00 price objective on shares of Scotts Miracle-Gro in a report on Friday, November 10th. Finally, J P Morgan Chase & Co downgraded shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price objective on the stock. in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $101.33.
Scotts Miracle-Gro Company (NYSE:SMG) traded up $1.38 on Monday, reaching $100.63. 239,259 shares of the company’s stock traded hands, compared to its average volume of 420,880. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.87 and a current ratio of 1.62. Scotts Miracle-Gro Company has a 1 year low of $81.48 and a 1 year high of $102.50. The firm has a market capitalization of $5,709.86, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 2.35 and a beta of 0.36.
Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.04. The company had revenue of $376.70 million during the quarter, compared to the consensus estimate of $368.50 million. Scotts Miracle-Gro had a net margin of 7.51% and a return on equity of 37.81%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.30) earnings per share. analysts forecast that Scotts Miracle-Gro Company will post 4.3 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be issued a $0.53 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $2.12 annualized dividend and a dividend yield of 2.11%. Scotts Miracle-Gro’s dividend payout ratio is currently 58.89%.
In related news, major shareholder Paul Hagedorn sold 16,000 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $94.30, for a total transaction of $1,508,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Randal Coleman sold 1,226 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $99.67, for a total transaction of $122,195.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,813 shares of company stock valued at $2,775,359. 28.16% of the stock is currently owned by corporate insiders.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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