Scotts Miracle-Gro Co (NYSE:SMG) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its stake in Scotts Miracle-Gro Co (NYSE:SMG) by 40.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 151,390 shares of the basic materials company’s stock after selling 101,263 shares during the period. Raymond James & Associates owned approximately 0.27% of Scotts Miracle-Gro worth $20,357,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Maverick Capital Ltd. raised its stake in shares of Scotts Miracle-Gro by 6.7% in the 1st quarter. Maverick Capital Ltd. now owns 84,351 shares of the basic materials company’s stock valued at $8,638,000 after acquiring an additional 5,306 shares during the period. New Mexico Educational Retirement Board increased its holdings in Scotts Miracle-Gro by 38.2% during the 1st quarter. New Mexico Educational Retirement Board now owns 9,400 shares of the basic materials company’s stock worth $963,000 after purchasing an additional 2,600 shares during the period. Paloma Partners Management Co purchased a new position in shares of Scotts Miracle-Gro in the 1st quarter valued at about $333,000. Janus Henderson Group PLC raised its holdings in Scotts Miracle-Gro by 464.4% in the first quarter. Janus Henderson Group PLC now owns 135,286 shares of the basic materials company’s stock valued at $13,853,000 after acquiring an additional 111,317 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Scotts Miracle-Gro by 6.5% during the 1st quarter. Victory Capital Management Inc. now owns 14,319 shares of the basic materials company’s stock worth $1,466,000 after acquiring an additional 871 shares in the last quarter. 63.07% of the stock is currently owned by institutional investors.

A number of analysts have issued reports on the company. SunTrust Banks lifted their price target on Scotts Miracle-Gro from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. William Blair reiterated a “buy” rating on shares of Scotts Miracle-Gro in a research note on Tuesday, June 9th. Raymond James cut Scotts Miracle-Gro from a “strong-buy” rating to a “market perform” rating and set a $152.00 target price on the stock. in a research report on Tuesday, May 26th. Finally, TheStreet raised Scotts Miracle-Gro from a “c+” rating to a “b” rating in a research report on Wednesday, May 6th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $128.50.

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 101,171 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 15,020,316 shares of the company’s stock, valued at $1,968,863,021.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Robert Hagedorn sold 30,732 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $132.08, for a total value of $4,059,082.56. Following the completion of the transaction, the insider now owns 14,778,221 shares in the company, valued at $1,951,907,429.68. The disclosure for this sale can be found here. In the last three months, insiders sold 250,442 shares of company stock valued at $33,190,830. Company insiders own 28.20% of the company’s stock.

NYSE:SMG opened at $158.57 on Friday. Scotts Miracle-Gro Co has a 52-week low of $76.50 and a 52-week high of $167.46. The company has a quick ratio of 1.32, a current ratio of 1.61 and a debt-to-equity ratio of 1.51. The stock has a fifty day simple moving average of $137.83 and a 200-day simple moving average of $123.79. The company has a market capitalization of $8.73 billion, a PE ratio of 27.82 and a beta of 0.93.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.37 by $0.43. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.33 billion. Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period last year, the firm posted $3.11 EPS. As a group, equities analysts anticipate that Scotts Miracle-Gro Co will post 6.75 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.56%. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, August 26th. Scotts Miracle-Gro’s dividend payout ratio is 51.90%.

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.

Recommended Story: What is Considered a Good Return on Equity (ROE)?

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.