Scotts Miracle-Gro Co. (SMG) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. raised its position in Scotts Miracle-Gro Co. (NYSE:SMG) by 15.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,136 shares of the company’s stock after buying an additional 23,080 shares during the period. Principal Financial Group Inc. owned 0.29% of Scotts Miracle-Gro worth $12,314,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. American Century Companies Inc. raised its stake in shares of 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 in the last quarter. Victory Capital Management Inc. raised its stake in shares of Scotts Miracle-Gro by 17.7% in the second quarter. Victory Capital Management Inc. now owns 963,500 shares of the company’s stock worth $67,358,000 after buying an additional 144,600 shares in the last quarter. Nicholas Investment Partners LP acquired a new stake in shares of Scotts Miracle-Gro during the first quarter worth about $6,455,000. Credit Agricole S A raised its stake in shares of Scotts Miracle-Gro by 650.5% in the first quarter. Credit Agricole S A now owns 95,400 shares of the company’s stock worth $6,942,000 after buying an additional 82,688 shares in the last quarter. Finally, BB&T Securities LLC raised its stake in shares of 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 in the last quarter. 69.92% of the stock is owned by hedge funds and other institutional investors.
Scotts Miracle-Gro Co. (NYSE:SMG) opened at 83.55 on Wednesday. Scotts Miracle-Gro Co. has a one year low of $62.20 and a one year high of $84.45. The stock has a 50 day moving average price of $82.02 and a 200-day moving average price of $74.61. The stock has a market capitalization of $5.06 billion, a P/E ratio of 16.34 and a beta of 0.70.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.04. The business had revenue of $994.10 million for the quarter, compared to analysts’ expectations of $1.05 billion. Scotts Miracle-Gro had a return on equity of 36.35% and a net margin of 10.72%. The company’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period last year, the firm earned $2.68 earnings per share. Analysts anticipate that Scotts Miracle-Gro Co. will post $3.79 earnings per share for the current year.
Several research analysts have commented on the company. Tigress Financial restated a “buy” rating on shares of Scotts Miracle-Gro in a report on Monday, August 29th. Zacks Investment Research upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Saturday, August 6th. Finally, JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and raised their price objective for the stock 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 company’s stock. Scotts Miracle-Gro has an average rating of “Buy” and a consensus price target of $83.33.
In other Scotts Miracle-Gro news, EVP Denise Stump sold 4,500 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $81.72, for a total transaction of $367,740.00. Following the transaction, the executive vice president now owns 14,182 shares of the company’s stock, valued at $1,158,953.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas Randal Coleman sold 789 shares of the firm’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $82.65, for a total value of $65,210.85. Following the transaction, the chief financial officer now directly owns 5,112 shares in the company, valued at approximately $422,506.80. The disclosure for this sale can be found here. 27.28% of the stock is owned by 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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