Advisors Asset Management Inc. Sells 941 Shares of Scotts Miracle-Gro Co. (SMG)
Advisors Asset Management Inc. cut its position in shares of Scotts Miracle-Gro Co. (NYSE:SMG) by 8.0% during the second quarter, Holdings Channel reports. The firm owned 10,890 shares of the company’s stock after selling 941 shares during the period. Advisors Asset Management Inc.’s holdings in Scotts Miracle-Gro were worth $761,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its position in Scotts Miracle-Gro by 0.4% in the second quarter. Fisher Asset Management LLC now owns 1,484,559 shares of the company’s stock worth $110,451,000 after buying an additional 6,220 shares during the period. 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 worth $89,460,000 after buying an additional 16,774 shares during the last quarter. Bank of New York Mellon Corp raised its position in Scotts Miracle-Gro by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 1,034,297 shares of the company’s stock worth $72,307,000 after buying an additional 36,974 shares during the last quarter. American Century Companies Inc. raised its position in Scotts Miracle-Gro by 77.6% in the second quarter. American Century Companies Inc. now owns 591,762 shares of the company’s stock worth $41,370,000 after buying an additional 258,645 shares during the last quarter. Finally, 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 worth $40,602,000 after buying an additional 76,294 shares during the last quarter. 69.91% of the stock is currently owned by hedge funds and other institutional investors.
Scotts Miracle-Gro Co. (NYSE:SMG) traded down 0.711% during trading on Friday, reaching $81.675. 105,616 shares of the company’s stock traded hands. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 15.971 and a beta of 0.74. Scotts Miracle-Gro Co. has a one year low of $58.83 and a one year high of $83.59. The company has a 50 day moving average of $81.58 and a 200 day moving average of $73.63.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.04. The company had revenue of $994.10 million for the quarter, compared to analyst estimates of $1.05 billion. Scotts Miracle-Gro had a return on equity of 36.35% and a net margin of 10.72%. Scotts Miracle-Gro’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.68 EPS. Equities research analysts predict that Scotts Miracle-Gro Co. will post $3.79 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.00 dividend on an annualized basis and a yield of 2.43%. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.47. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 39.06%.
A number of research firms recently weighed in on SMG. Tigress Financial reissued a “buy” rating on shares of Scotts Miracle-Gro in a research report on Monday, August 29th. Zacks Investment Research upgraded 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 upped their target price for the stock from $70.00 to $85.00 in a research report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $83.33.
In other news, EVP Ivan C. Smith sold 1,394 shares of the stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $82.92, for a total value of $115,590.48. Following the transaction, the executive vice president now owns 6,711 shares in the company, valued at approximately $556,476.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas Randal Coleman sold 4,927 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $82.51, for a total value of $406,526.77. Following the completion of the transaction, the chief financial officer now owns 4,323 shares in the company, valued at approximately $356,690.73. The disclosure for this sale can be found here. 27.28% of the stock is owned by company insiders.
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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