Prudential Financial Inc. Reduces Position in Scotts Miracle-Gro Co (NYSE:SMG)

Prudential Financial Inc. reduced its stake in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 4.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,562 shares of the basic materials company’s stock after selling 1,196 shares during the period. Prudential Financial Inc.’s holdings in Scotts Miracle-Gro were worth $2,586,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. World Asset Management Inc boosted its holdings in Scotts Miracle-Gro by 0.5% in the 2nd quarter. World Asset Management Inc now owns 3,135 shares of the basic materials company’s stock worth $280,000 after buying an additional 17 shares during the period. US Bancorp DE boosted its holdings in Scotts Miracle-Gro by 0.3% in the 2nd quarter. US Bancorp DE now owns 15,101 shares of the basic materials company’s stock valued at $1,351,000 after purchasing an additional 49 shares during the period. Teacher Retirement System of Texas boosted its holdings in Scotts Miracle-Gro by 1.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,590 shares of the basic materials company’s stock valued at $321,000 after purchasing an additional 57 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in Scotts Miracle-Gro by 0.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,733 shares of the basic materials company’s stock valued at $1,228,000 after purchasing an additional 67 shares during the period. Finally, Zacks Investment Management boosted its holdings in Scotts Miracle-Gro by 0.4% in the 2nd quarter. Zacks Investment Management now owns 24,176 shares of the basic materials company’s stock valued at $2,163,000 after purchasing an additional 108 shares during the period. 69.11% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on the stock. 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 target for the company. in a report on Wednesday, November 8th. KeyCorp restated a “hold” rating on shares of Scotts Miracle-Gro in a research report on Saturday, November 25th. Bank of America raised their price objective on shares of Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a research 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 research report on Friday, November 10th. Finally, Zacks Investment Research cut shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $101.33.

Shares of Scotts Miracle-Gro Co (SMG) traded up $0.04 during trading hours on Wednesday, reaching $102.70. 281,300 shares of the company were exchanged, compared to its average volume of 419,705. The stock has a market cap of $5,906.04, a PE ratio of 24.50, a PEG ratio of 2.43 and a beta of 0.36. Scotts Miracle-Gro Co has a one year low of $81.48 and a one year high of $103.36. 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 (NYSE:SMG) last announced its quarterly earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. The business had revenue of $376.70 million for the quarter, compared to analyst estimates of $368.50 million. Scotts Miracle-Gro had a net margin of 7.51% and a return on equity of 37.81%. The company’s revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.30) EPS. equities research analysts predict that Scotts Miracle-Gro Co will post 4.3 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Wednesday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 58.89%.

In other news, Director Nancy G. Mistretta sold 5,000 shares of Scotts Miracle-Gro stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $100.11, for a total transaction of $500,550.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Ivan C. Smith sold 6,587 shares of Scotts Miracle-Gro stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $97.74, for a total transaction of $643,813.38. The disclosure for this sale can be found here. In the last three months, insiders sold 12,813 shares of company stock worth $1,266,559. Insiders own 28.16% of the company’s stock.

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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.

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

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