Landscape Capital Management L.L.C. lowered its position in The Scotts Miracle-Gro Company (NYSE:SMG – Free Report) by 32.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,214 shares of the basic materials company’s stock after selling 82,552 shares during the period. Scotts Miracle-Gro makes up approximately 0.7% of Landscape Capital Management L.L.C.’s investment portfolio, making the stock its 16th largest holding. Landscape Capital Management L.L.C.’s holdings in Scotts Miracle-Gro were worth $9,815,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Key Capital Management INC purchased a new stake in Scotts Miracle-Gro in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Scotts Miracle-Gro in the 3rd quarter worth approximately $32,000. Hantz Financial Services Inc. boosted its position in Scotts Miracle-Gro by 157.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 584 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 357 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Scotts Miracle-Gro by 156.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 634 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 387 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its position in Scotts Miracle-Gro by 127.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 499 shares in the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on SMG. Wells Fargo & Company reduced their target price on Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th. Stifel Nicolaus reduced their target price on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 target price on shares of Scotts Miracle-Gro in a research note on Wednesday, April 29th. UBS Group reaffirmed a “neutral” rating and set a $63.00 target price on shares of Scotts Miracle-Gro in a research note on Tuesday, June 2nd. Finally, Wall Street Zen downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.67.
Scotts Miracle-Gro Stock Performance
NYSE SMG opened at $61.71 on Friday. The business has a fifty day moving average price of $61.17 and a 200 day moving average price of $61.83. The Scotts Miracle-Gro Company has a one year low of $52.00 and a one year high of $72.35. The company has a market cap of $3.59 billion, a P/E ratio of 34.47 and a beta of 1.84.
Scotts Miracle-Gro (NYSE:SMG – Get Free Report) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.97 by $0.56. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the company earned $3.98 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts predict that The Scotts Miracle-Gro Company will post 4.36 EPS for the current fiscal year.
Scotts Miracle-Gro Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were paid a $0.66 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.3%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 147.49%.
Scotts Miracle-Gro Profile
Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.
Headquartered in Marysville, Ohio, the company traces its roots to O.M.
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