State Board of Administration of Florida Retirement System Has $6.83 Million Stake in Scotts Miracle-Gro Company (The) (SMG)

State Board of Administration of Florida Retirement System grew its stake in Scotts Miracle-Gro Company (The) (NYSE:SMG) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,183 shares of the basic materials company’s stock after acquiring an additional 970 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.12% of Scotts Miracle-Gro Company (The) worth $6,832,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SMG. Wellington Management Group LLP purchased a new position in shares of Scotts Miracle-Gro Company (The) in the 1st quarter valued at $241,000. Nuveen Asset Management LLC grew its stake in Scotts Miracle-Gro Company (The) by 12.9% during the 1st quarter. Nuveen Asset Management LLC now owns 17,277 shares of the basic materials company’s stock worth $1,613,000 after buying an additional 1,976 shares during the last quarter. Bank of Montreal Can grew its stake in Scotts Miracle-Gro Company (The) by 13.0% during the 2nd quarter. Bank of Montreal Can now owns 24,451 shares of the basic materials company’s stock worth $2,187,000 after buying an additional 2,814 shares during the last quarter. Creative Planning grew its stake in Scotts Miracle-Gro Company (The) by 44.5% during the 2nd quarter. Creative Planning now owns 2,097 shares of the basic materials company’s stock worth $188,000 after buying an additional 646 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Scotts Miracle-Gro Company (The) by 4.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 16,433 shares of the basic materials company’s stock worth $1,470,000 after buying an additional 719 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

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Shares of Scotts Miracle-Gro Company (NYSE:SMG) opened at $99.10 on Tuesday. Scotts Miracle-Gro Company has a 52-week low of $81.48 and a 52-week high of $102.50. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.87 and a current ratio of 1.62. The company has a market capitalization of $5,761.10, a PE ratio of 23.54, a price-to-earnings-growth ratio of 2.33 and a beta of 0.37.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last issued its quarterly earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.04. Scotts Miracle-Gro Company (The) had a return on equity of 37.81% and a net margin of 7.51%. The company had revenue of $376.70 million during the quarter, compared to analysts’ expectations of $368.50 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. equities analysts forecast that Scotts Miracle-Gro Company will post 4.3 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be given a dividend of $0.53 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $2.12 dividend on an annualized basis and a yield of 2.14%. Scotts Miracle-Gro Company (The)’s dividend payout ratio is currently 58.89%.

In other news, major shareholder Hagedorn Partnership, L.P. sold 32,000 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $94.37, for a total value of $3,019,840.00. Following the completion of the transaction, the insider now owns 15,759,274 shares of the company’s stock, valued at approximately $1,487,202,687.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Nancy G. Mistretta sold 5,000 shares of the business’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $100.11, for a total value of $500,550.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,226 shares of company stock valued at $6,661,305. 28.16% of the stock is currently owned by insiders.

SMG has been the topic of several research analyst reports. BidaskClub downgraded Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research upgraded Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. KeyCorp restated a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a research note on Monday, August 28th. J P Morgan Chase & Co downgraded Scotts Miracle-Gro Company (The) from an “overweight” rating to a “neutral” rating and set a $99.00 target price on the stock. in a research note on Wednesday, November 8th. Finally, Bank of America Corporation boosted their target price on Scotts Miracle-Gro Company (The) from $107.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. One 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 stock presently has a consensus rating of “Hold” and an average price target of $101.33.

Scotts Miracle-Gro Company (The) 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 Company (The) (NYSE:SMG)

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