Private Harbour Investment Management & Counsel LLC reduced its position in Scotts Miracle-Gro Co (NYSE:SMG) by 6.0% in the first quarter, HoldingsChannel.com reports. The fund owned 14,755 shares of the basic materials company’s stock after selling 950 shares during the quarter. Private Harbour Investment Management & Counsel LLC’s holdings in Scotts Miracle-Gro were worth $1,159,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in SMG. Norges Bank bought a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $31,340,000. FMR LLC lifted its position in Scotts Miracle-Gro by 21.5% during the fourth quarter. FMR LLC now owns 2,363,127 shares of the basic materials company’s stock valued at $145,238,000 after purchasing an additional 418,722 shares during the last quarter. Gotham Asset Management LLC bought a new stake in Scotts Miracle-Gro during the fourth quarter valued at approximately $11,313,000. ETF Managers Group LLC bought a new stake in Scotts Miracle-Gro during the fourth quarter valued at approximately $10,158,000. Finally, Markel Corp lifted its position in Scotts Miracle-Gro by 67.4% during the first quarter. Markel Corp now owns 298,000 shares of the basic materials company’s stock valued at $23,417,000 after purchasing an additional 120,000 shares during the last quarter. Institutional investors own 65.12% of the company’s stock.
Several brokerages have issued reports on SMG. ValuEngine lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet upgraded shares of Scotts Miracle-Gro from a “c” rating to a “b” rating in a research report on Wednesday, May 1st. Bank of America lowered shares of Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $81.00 to $83.00 in a research report on Thursday, May 2nd. Raymond James lowered shares of 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 report on Wednesday, March 27th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 target price for the company in a research report on Thursday, January 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $76.03.
SMG stock opened at $86.80 on Friday. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 23.40, a price-to-earnings-growth ratio of 1.89 and a beta of 0.94. Scotts Miracle-Gro Co has a one year low of $57.96 and a one year high of $94.49. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 3.28.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.42 by $0.22. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted $2.88 earnings per share. On average, analysts anticipate that Scotts Miracle-Gro Co will post 4.25 EPS for the current year.
The firm 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. This represents a $2.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, May 24th. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 59.30%.
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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.
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