Nationwide Fund Advisors Lowers Position in Scotts Miracle-Gro Co. (SMG)
Nationwide Fund Advisors reduced its stake in shares of Scotts Miracle-Gro Co. (NYSE:SMG) by 13.9% during the second quarter, Holdings Channel reports. The firm owned 124,452 shares of the company’s stock after selling 20,024 shares during the period. Nationwide Fund Advisors owned 0.20% of Scotts Miracle-Gro worth $8,700,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of SMG. State Street Corp raised its position in Scotts Miracle-Gro by 1.4% in the first quarter. State Street Corp now owns 1,229,289 shares of the company’s stock valued at $89,460,000 after buying an additional 16,774 shares during the period. BB&T Securities LLC raised its position in Scotts Miracle-Gro by 15.8% in the first quarter. BB&T Securities LLC now owns 557,952 shares of the company’s stock valued at $40,602,000 after buying an additional 76,294 shares during the period. Credit Agricole S A raised its position in Scotts Miracle-Gro by 650.5% in the first quarter. Credit Agricole S A now owns 95,400 shares of the company’s stock valued at $6,942,000 after buying an additional 82,688 shares during the period. M&T Bank Corp raised its position in Scotts Miracle-Gro by 1.6% in the first quarter. M&T Bank Corp now owns 507,591 shares of the company’s stock valued at $36,938,000 after buying an additional 8,173 shares during the period. Finally, Landscape Capital Management L.L.C. raised its position in Scotts Miracle-Gro by 97.1% in the first quarter. Landscape Capital Management L.L.C. now owns 47,740 shares of the company’s stock valued at $3,474,000 after buying an additional 23,520 shares during the period. 70.02% of the stock is owned by institutional investors and hedge funds.
Scotts Miracle-Gro Co. (NYSE:SMG) traded up 0.71% on Tuesday, reaching $80.92. 115,588 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $81.06 and a 200-day moving average of $73.44. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 15.82 and a beta of 0.74. Scotts Miracle-Gro Co. has a 12 month low of $58.83 and a 12 month high of $83.59.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.12 by $0.04. The business earned $994.10 million during the quarter, compared to the consensus estimate of $1.05 billion. Scotts Miracle-Gro had a net margin of 10.72% and a return on equity of 36.35%. Scotts Miracle-Gro’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 EPS. On average, equities analysts expect that Scotts Miracle-Gro Co. will post $3.79 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 26th were issued a dividend of $0.50 per share. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.47. This represents a $2.00 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Wednesday, August 24th. Scotts Miracle-Gro’s dividend payout ratio is currently 39.06%.
Several research analysts have recently commented on the stock. Tigress Financial reaffirmed a “buy” rating on shares of Scotts Miracle-Gro in a report on Monday, August 29th. Zacks Investment Research raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Saturday, August 6th. Finally, JPMorgan Chase & Co. raised shares of Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $70.00 to $85.00 in a report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $83.33.
In related news, EVP Denise Stump sold 4,500 shares of the company’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $81.72, for a total transaction of $367,740.00. Following the completion of the sale, the executive vice president now directly owns 14,182 shares of the company’s stock, valued at approximately $1,158,953.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael C. Lukemire sold 38,924 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $79.65, for a total transaction of $3,100,296.60. Following the sale, the insider now directly owns 34,256 shares of the company’s stock, valued at $2,728,490.40. The disclosure for this sale can be found here. Corporate insiders own 27.28% of the company’s stock.
Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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