Lido Advisors LLC Lowers Stock Position in The Scotts Miracle-Gro Company $SMG

Lido Advisors LLC trimmed its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG – Free Report) by 44.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,411 shares of the basic materials company’s stock after selling 20,104 shares during the quarter. Lido Advisors LLC’s holdings in Scotts Miracle-Gro were worth $1,545,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SMG. Icon Advisers Inc. Co. bought a new position in shares of Scotts Miracle-Gro in the 1st quarter worth $2,858,000. First Trust Advisors LP raised its holdings in Scotts Miracle-Gro by 401.6% in the first quarter. First Trust Advisors LP now owns 153,678 shares of the basic materials company’s stock worth $9,345,000 after purchasing an additional 123,041 shares in the last quarter. Chase Investment Counsel Corp purchased a new stake in shares of Scotts Miracle-Gro during the first quarter valued at about $2,723,000. Baader Bank Aktiengesellschaft boosted its holdings in shares of Scotts Miracle-Gro by 3.9% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 5,193 shares of the basic materials company’s stock valued at $312,000 after buying an additional 193 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Scotts Miracle-Gro in the 1st quarter worth approximately $26,000. Institutional investors own 74.07% of the company’s stock.

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Scotts Miracle-Gro Stock Performance

Shares of NYSE SMG opened at $69.42 on Monday. The Scotts Miracle-Gro Company has a 1 year low of $52.00 and a 1 year high of $75.34. The company’s fifty day moving average price is $63.70 and its 200 day moving average price is $63.98. The company has a market capitalization of $4.04 billion, a PE ratio of 38.78 and a beta of 1.81.

Scotts Miracle-Gro (NYSE:SMG – Get Free Report) last posted its earnings results on Wednesday, April 29th. The basic materials company reported $4.53 EPS for the quarter, beating 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 firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm earned $3.98 EPS. The company’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts expect that The Scotts Miracle-Gro Company will post 4.3 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SMG shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 price target on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Stifel Nicolaus lowered their price target on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a report on Monday, June 8th. Wells Fargo & Company boosted their price target on Scotts Miracle-Gro from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Wall Street Zen raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Scotts Miracle-Gro has an average rating of “Hold” and an average target price of $73.00.

Read Our Latest Stock Analysis on Scotts Miracle-Gro

Scotts Miracle-Gro Company Profile

(Free Report)

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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