Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Scotts Miracle-Gro Co (NYSE:SMG) by 20.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,076 shares of the basic materials company’s stock after buying an additional 1,207 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Scotts Miracle-Gro were worth $588,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. California Public Employees Retirement System raised its stake in Scotts Miracle-Gro by 17.4% in the second quarter. California Public Employees Retirement System now owns 138,108 shares of the basic materials company’s stock worth $11,485,000 after buying an additional 20,465 shares in the last quarter. Scopus Asset Management L.P. bought a new position in Scotts Miracle-Gro in the second quarter worth about $2,911,000. PEAK6 Investments L.P. raised its stake in Scotts Miracle-Gro by 913.2% in the second quarter. PEAK6 Investments L.P. now owns 5,156 shares of the basic materials company’s stock worth $429,000 after buying an additional 5,790 shares in the last quarter. New England Asset Management Inc. bought a new position in Scotts Miracle-Gro in the second quarter worth about $371,000. Finally, Zacks Investment Management bought a new position in Scotts Miracle-Gro in the second quarter worth about $4,142,000. 65.42% of the stock is owned by institutional investors.

A number of equities analysts have weighed in on the stock. ValuEngine downgraded shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Bank of America reaffirmed a “sell” rating and set a $80.00 target price on shares of Scotts Miracle-Gro in a research note on Wednesday, June 13th. JPMorgan Chase & Co. decreased their target price on shares of Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating for the company in a research note on Friday, August 24th. Finally, Raymond James downgraded shares of Scotts Miracle-Gro from a “market perform” rating to an “underperform” rating in a research note on Wednesday, June 20th. Five research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Sell” and a consensus target price of $85.50.

Shares of NYSE SMG opened at $78.93 on Tuesday. Scotts Miracle-Gro Co has a fifty-two week low of $72.67 and a fifty-two week high of $110.12. The company has a market cap of $4.25 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 5.42 and a beta of 0.25. The company has a quick ratio of 0.99, a current ratio of 1.60 and a debt-to-equity ratio of 3.72.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Tuesday, July 31st. The basic materials company reported $2.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.12. Scotts Miracle-Gro had a net margin of 6.80% and a return on equity of 43.37%. The business had revenue of $994.60 million during the quarter, compared to the consensus estimate of $996.40 million. During the same quarter last year, the firm earned $2.57 earnings per share. sell-side analysts anticipate that Scotts Miracle-Gro Co will post 3.77 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Monday, August 27th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 24th. This represents a $2.20 annualized dividend and a dividend yield of 2.79%. This is an increase from Scotts Miracle-Gro’s previous quarterly dividend of $0.53. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 55.84%.

In related news, Director Katherine Littlefield Hagedorn sold 40,329 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $77.76, for a total transaction of $3,135,983.04. Following the completion of the sale, the director now owns 6,511 shares of the company’s stock, valued at $506,295.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 44,793 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $77.76, for a total transaction of $3,483,103.68. Following the sale, the insider now directly owns 15,652,099 shares of the company’s stock, valued at approximately $1,217,107,218.24. The disclosure for this sale can be found here. 29.14% of the stock is owned by company insiders.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including 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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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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