Vanguard Group Inc. Has $242,285,000 Stake in Scotts Miracle-Gro Co. (SMG)
Vanguard Group Inc. increased its position in Scotts Miracle-Gro Co. (NYSE:SMG) by 4.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,465,666 shares of the company’s stock after buying an additional 133,255 shares during the period. Vanguard Group Inc. owned about 5.67% of Scotts Miracle-Gro worth $242,285,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in SMG. Fisher Asset Management LLC boosted 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 boosted 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 period. Bank of New York Mellon Corp boosted 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 period. Victory Capital Management Inc. boosted its position in 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 during the period. Finally, American Century Companies Inc. boosted 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 period. 69.92% of the stock is owned by institutional investors.
Shares of Scotts Miracle-Gro Co. (NYSE:SMG) opened at 85.59 on Friday. Scotts Miracle-Gro Co. has a 12 month low of $62.20 and a 12 month high of $86.27. The stock has a 50 day moving average price of $82.21 and a 200-day moving average price of $74.77. The stock has a market cap of $5.19 billion, a P/E ratio of 16.74 and a beta of 0.70.
Scotts Miracle-Gro (NYSE:SMG) last issued 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 firm earned $994.10 million during 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%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the company posted $2.68 EPS. On average, analysts forecast that Scotts Miracle-Gro Co. will post $3.79 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on SMG shares. Zacks Investment Research raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Saturday, August 6th. JPMorgan Chase & Co. raised Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $70.00 to $85.00 in a research report on Thursday, August 4th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Scotts Miracle-Gro in a research report on Monday, August 29th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $83.33.
In other news, CFO Thomas Randal Coleman sold 789 shares of the stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $82.65, for a total transaction of $65,210.85. Following the completion of the sale, the chief financial officer now owns 5,112 shares in the company, valued at approximately $422,506.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael C. Lukemire sold 38,924 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $79.65, for a total value of $3,100,296.60. Following the sale, the insider now owns 34,256 shares of the company’s stock, valued at approximately $2,728,490.40. The disclosure for this sale can be found here. Company 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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