Integrity Alliance LLC. acquired a new position in The Scotts Miracle-Gro Company (NYSE:SMG – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,884 shares of the basic materials company’s stock, valued at approximately $868,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp boosted its stake in Scotts Miracle-Gro by 1.1% in the second quarter. State Street Corp now owns 1,522,093 shares of the basic materials company’s stock worth $100,397,000 after purchasing an additional 16,298 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Scotts Miracle-Gro by 29.5% in the third quarter. Ameriprise Financial Inc. now owns 1,165,367 shares of the basic materials company’s stock worth $66,368,000 after purchasing an additional 265,677 shares in the last quarter. Captrust Financial Advisors boosted its stake in Scotts Miracle-Gro by 14.5% in the third quarter. Captrust Financial Advisors now owns 1,154,815 shares of the basic materials company’s stock worth $65,767,000 after purchasing an additional 146,192 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in Scotts Miracle-Gro by 43.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,036,191 shares of the basic materials company’s stock worth $60,462,000 after purchasing an additional 314,172 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Scotts Miracle-Gro by 26.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 898,519 shares of the basic materials company’s stock worth $51,171,000 after purchasing an additional 187,130 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.
Analysts Set New Price Targets
SMG has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Scotts Miracle-Gro in a research note on Monday, May 4th. Wall Street Zen raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. lowered Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $70.00 to $67.00 in a research note on Thursday, March 26th. Stifel Nicolaus set a $76.00 price objective on Scotts Miracle-Gro in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company reduced their price objective on Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.00.
Scotts Miracle-Gro Stock Down 1.2%
Shares of SMG opened at $60.40 on Friday. The Scotts Miracle-Gro Company has a 12-month low of $52.00 and a 12-month high of $72.35. The firm has a market capitalization of $3.51 billion, a PE ratio of 33.74 and a beta of 1.88. The stock’s fifty day simple moving average is $62.18 and its 200-day simple moving average is $61.63.
Scotts Miracle-Gro (NYSE:SMG – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.97 by $0.56. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.98 earnings per share. Analysts anticipate that The Scotts Miracle-Gro Company will post 4.37 EPS for the current year.
Scotts Miracle-Gro Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, May 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently 147.49%.
About Scotts Miracle-Gro
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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