State Treasurer State of Michigan cut its holdings in Scotts Miracle-Gro Co (NYSE:SMG) by 4.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 14,675 shares of the basic materials company’s stock after selling 700 shares during the period. State Treasurer State of Michigan’s holdings in Scotts Miracle-Gro were worth $1,570,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of SMG. Steward Partners Investment Advisory LLC increased its stake in Scotts Miracle-Gro by 2,291.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,148 shares of the basic materials company’s stock valued at $122,000 after purchasing an additional 1,100 shares during the period. Charter Trust Co. acquired a new position in Scotts Miracle-Gro in the fourth quarter valued at $203,000. Narwhal Capital Management acquired a new position in Scotts Miracle-Gro in the fourth quarter valued at $214,000. First Allied Advisory Services Inc. acquired a new position in Scotts Miracle-Gro in the third quarter valued at $226,000. Finally, Cetera Investment Advisers acquired a new position in Scotts Miracle-Gro in the second quarter valued at $247,000. Institutional investors own 67.41% of the company’s stock.
A number of research analysts have commented on SMG shares. Bank of America set a $120.00 price objective on shares of Scotts Miracle-Gro and gave the company a “buy” rating in a research note on Tuesday, January 30th. Zacks Investment Research lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday, January 27th. SunTrust Banks reiterated a “hold” rating and set a $95.00 price target on shares of Scotts Miracle-Gro in a research note on Friday, November 10th. KeyCorp reiterated a “hold” rating on shares of Scotts Miracle-Gro in a research note on Saturday, November 25th. Finally, JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price target on the stock. in a research note on Wednesday, November 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Scotts Miracle-Gro has a consensus rating of “Hold” and an average target price of $104.25.
Scotts Miracle-Gro Co (SMG) opened at $90.36 on Thursday. Scotts Miracle-Gro Co has a one year low of $81.48 and a one year high of $110.12. The company has a current ratio of 2.09, a quick ratio of 0.61 and a debt-to-equity ratio of 3.34. The stock has a market cap of $5,190.00, a PE ratio of 22.70, a PEG ratio of 1.95 and a beta of 0.20.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Tuesday, January 30th. The basic materials company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.16). Scotts Miracle-Gro had a return on equity of 38.33% and a net margin of 9.11%. The firm had revenue of $221.50 million for the quarter, compared to analyst estimates of $237.21 million. During the same quarter last year, the firm earned ($0.96) earnings per share. The company’s revenue was down 10.3% compared to the same quarter last year. research analysts predict that Scotts Miracle-Gro Co will post 4.7 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.35%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 53.27%.
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Scotts Miracle-Gro 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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