ING Groep NV acquired a new stake in The Scotts Miracle-Gro Company (NYSE:SMG – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 73,800 shares of the basic materials company’s stock, valued at approximately $4,306,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Versor Investments LP purchased a new position in shares of Scotts Miracle-Gro in the third quarter valued at approximately $1,355,000. Elo Mutual Pension Insurance Co boosted its stake in shares of Scotts Miracle-Gro by 101.4% in the third quarter. Elo Mutual Pension Insurance Co now owns 41,408 shares of the basic materials company’s stock valued at $2,358,000 after purchasing an additional 20,843 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Scotts Miracle-Gro by 21.4% in the third quarter. JPMorgan Chase & Co. now owns 155,498 shares of the basic materials company’s stock valued at $8,856,000 after purchasing an additional 27,422 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Scotts Miracle-Gro by 46.6% in the fourth quarter. Sound Income Strategies LLC now owns 230,966 shares of the basic materials company’s stock valued at $14,692,000 after purchasing an additional 73,455 shares during the period. Finally, SG Capital Management LLC purchased a new position in shares of Scotts Miracle-Gro in the third quarter valued at approximately $3,032,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently commented on SMG shares. Jefferies Financial Group reissued a “buy” rating and issued a $79.00 price objective on shares of Scotts Miracle-Gro in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company decreased their price target on shares of 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. UBS Group reiterated a “neutral” rating and issued a $63.00 price target on shares of Scotts Miracle-Gro in a research note on Tuesday, June 2nd. Finally, Stifel Nicolaus decreased their price target on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Monday. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Scotts Miracle-Gro has an average rating of “Moderate Buy” and an average target price of $72.67.
Scotts Miracle-Gro Trading Down 0.2%
Shares of NYSE:SMG opened at $57.54 on Tuesday. The company has a market capitalization of $3.35 billion, a PE ratio of 32.15 and a beta of 1.84. The Scotts Miracle-Gro Company has a twelve month low of $52.00 and a twelve month high of $72.35. The firm has a 50 day simple moving average of $61.16 and a 200-day simple moving average of $61.68.
Scotts Miracle-Gro (NYSE:SMG – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share for the quarter, topping the consensus estimate of $3.97 by $0.56. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.41 billion. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.98 EPS. As a group, equities research analysts predict that The Scotts Miracle-Gro Company will post 4.37 EPS for the current fiscal year.
Scotts Miracle-Gro Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, May 22nd. Scotts Miracle-Gro’s 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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