Scotts Miracle-Gro Co (SMG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in Scotts Miracle-Gro Co (NYSE:SMG) by 1.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 108,098 shares of the basic materials company’s stock after selling 2,140 shares during the period. Rhumbline Advisers’ holdings in Scotts Miracle-Gro were worth $8,494,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Scotts Miracle-Gro by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 75,427 shares of the basic materials company’s stock valued at $5,939,000 after purchasing an additional 4,316 shares during the last quarter. Virtu Financial LLC acquired a new position in Scotts Miracle-Gro in the fourth quarter valued at $602,000. Eukles Asset Management acquired a new position in Scotts Miracle-Gro in the fourth quarter valued at $198,000. Fisher Asset Management LLC increased its stake in Scotts Miracle-Gro by 3.9% in the fourth quarter. Fisher Asset Management LLC now owns 1,522,881 shares of the basic materials company’s stock valued at $93,596,000 after purchasing an additional 56,467 shares during the last quarter. Finally, CWM LLC increased its stake in Scotts Miracle-Gro by 16.6% in the fourth quarter. CWM LLC now owns 33,412 shares of the basic materials company’s stock valued at $2,053,000 after purchasing an additional 4,766 shares during the last quarter. 65.12% of the stock is currently owned by hedge funds and other institutional investors.

SMG has been the subject of several analyst reports. Raymond James lowered Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 target price for the company. in a research note on Wednesday, March 27th. They noted that the move was a valuation call. ValuEngine lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. Bank of America lowered Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and upped their target price for the company from $81.00 to $83.00 in a research note on Thursday, May 2nd. TheStreet upgraded Scotts Miracle-Gro from a “c” rating to a “b” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 target price for the company in a research note on Thursday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $76.03.

Shares of NYSE:SMG opened at $90.19 on Wednesday. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 1.92 and a beta of 0.94. The company has a quick ratio of 1.00, a current ratio of 1.59 and a debt-to-equity ratio of 3.28. Scotts Miracle-Gro Co has a 12 month low of $57.96 and a 12 month high of $94.49.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $3.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.42 by $0.22. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Scotts Miracle-Gro had a return on equity of 53.15% and a net margin of 8.67%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.88 earnings per share. Research analysts predict that Scotts Miracle-Gro Co will post 4.25 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.20 annualized dividend and a yield of 2.44%. Scotts Miracle-Gro’s dividend payout ratio is presently 59.30%.

TRADEMARK VIOLATION WARNING: This report was posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The legal version of this report can be viewed at https://www.themarketsdaily.com/2019/05/22/scotts-miracle-gro-co-smg-shares-sold-by-rhumbline-advisers.html.

Scotts Miracle-Gro 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.

See Also: What is the Consumer Price Index (CPI)?

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).

Institutional Ownership by Quarter for Scotts Miracle-Gro (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.