Shine Investment Advisory Services Inc. increased its holdings in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 106.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 510 shares of the basic materials company’s stock after purchasing an additional 263 shares during the period. Shine Investment Advisory Services Inc.’s holdings in Scotts Miracle-Gro were worth $40,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Scotts Miracle-Gro by 1.4% during the third quarter. Vanguard Group Inc. now owns 3,701,992 shares of the basic materials company’s stock valued at $291,458,000 after purchasing an additional 52,278 shares in the last quarter. Vanguard Group Inc boosted its stake in Scotts Miracle-Gro by 1.4% in the third quarter. Vanguard Group Inc now owns 3,701,992 shares of the basic materials company’s stock valued at $291,458,000 after acquiring an additional 52,278 shares in the last quarter. BlackRock Inc. boosted its stake in Scotts Miracle-Gro by 1.9% in the fourth quarter. BlackRock Inc. now owns 3,632,451 shares of the basic materials company’s stock valued at $223,249,000 after acquiring an additional 66,029 shares in the last quarter. FMR LLC boosted its stake in Scotts Miracle-Gro by 21.5% in the fourth quarter. FMR LLC now owns 2,363,127 shares of the basic materials company’s stock valued at $145,238,000 after acquiring an additional 418,722 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its stake in Scotts Miracle-Gro by 1.7% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,153,990 shares of the basic materials company’s stock valued at $132,385,000 after acquiring an additional 36,253 shares in the last quarter. Hedge funds and other institutional investors own 64.91% of the company’s stock.
In other news, Director Katherine Littlefield Hagedorn sold 2,665 shares of Scotts Miracle-Gro stock in a transaction on Monday, February 4th. The shares were sold at an average price of $74.07, for a total transaction of $197,396.55. Following the completion of the sale, the director now directly owns 4,035 shares in the company, valued at $298,872.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 30.37% of the company’s stock.
Shares of SMG opened at $83.16 on Wednesday. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 2.01 and a beta of 0.92. Scotts Miracle-Gro Co has a twelve month low of $57.96 and a twelve month high of $91.81. The company has a debt-to-equity ratio of 8.63, a current ratio of 1.81 and a quick ratio of 0.56.
Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, January 30th. The basic materials company reported ($1.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.24) by ($0.15). Scotts Miracle-Gro had a net margin of 0.19% and a return on equity of 47.98%. The firm had revenue of $298.10 million during the quarter, compared to analyst estimates of $287.24 million. During the same quarter last year, the business earned ($1.08) earnings per share. Scotts Miracle-Gro’s revenue was up 34.6% on a year-over-year basis. On average, equities analysts predict that Scotts Miracle-Gro Co will post 4.2 earnings per share for the current fiscal year.
Several brokerages have weighed in on SMG. Raymond James downgraded shares of Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 target price for the company. in a research note on Wednesday, March 27th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 target price for the company in a research note on Thursday, January 31st. Finally, Zacks Investment Research upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Tuesday, January 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $77.62.
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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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