Cigna Investments Inc. New Makes New Investment in The Scotts Miracle-Gro Company (NYSE:SMG)

Cigna Investments Inc. New acquired a new position in The Scotts Miracle-Gro Company (NYSE:SMG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,363 shares of the basic materials company’s stock, valued at approximately $209,000.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in The Scotts Miracle-Gro by 4.3% during the second quarter. Vanguard Group Inc. now owns 4,758,410 shares of the basic materials company’s stock worth $639,863,000 after buying an additional 194,885 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of The Scotts Miracle-Gro by 11.9% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,271,995 shares of the basic materials company’s stock valued at $437,868,000 after purchasing an additional 347,094 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of The Scotts Miracle-Gro by 27.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,158,695 shares of the basic materials company’s stock valued at $177,177,000 after purchasing an additional 248,705 shares in the last quarter. Bank of America Corp DE raised its position in shares of The Scotts Miracle-Gro by 5.9% in the 2nd quarter. Bank of America Corp DE now owns 903,884 shares of the basic materials company’s stock valued at $121,546,000 after purchasing an additional 50,559 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of The Scotts Miracle-Gro by 503.6% during the 3rd quarter. Victory Capital Management Inc. now owns 792,538 shares of the basic materials company’s stock valued at $121,187,000 after acquiring an additional 661,231 shares in the last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently issued reports on SMG shares. Raymond James reissued a “hold” rating on shares of The Scotts Miracle-Gro in a research report on Thursday, August 6th. ValuEngine lowered The Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Tuesday, November 10th. SunTrust Banks upped their price target on The Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Zacks Investment Research lowered The Scotts Miracle-Gro from a “buy” rating to a “hold” rating and set a $178.00 price target on the stock. in a research report on Tuesday, November 17th. Finally, Berenberg Bank raised The Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $200.00 price target on the stock in a research report on Thursday, November 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The Scotts Miracle-Gro has an average rating of “Hold” and a consensus target price of $165.00.

Shares of SMG opened at $169.41 on Friday. The company has a market cap of $9.45 billion, a P/E ratio of 29.72 and a beta of 1.08. The stock has a fifty day moving average price of $163.31 and a 200 day moving average price of $152.02. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.61 and a quick ratio of 1.16. The Scotts Miracle-Gro Company has a 12 month low of $76.50 and a 12 month high of $179.97.

The Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, November 4th. The basic materials company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). The company had revenue of $890.30 million for the quarter, compared to the consensus estimate of $886.23 million. The Scotts Miracle-Gro had a return on equity of 45.36% and a net margin of 8.71%. The Scotts Miracle-Gro’s quarterly revenue was up 78.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.91) earnings per share. As a group, research analysts anticipate that The Scotts Miracle-Gro Company will post 7.26 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Monday, November 30th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 1.46%. The Scotts Miracle-Gro’s payout ratio is currently 55.48%.

The 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.

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Institutional Ownership by Quarter for The Scotts Miracle-Gro (NYSE:SMG)

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