Hsbc Holdings PLC Sells 7,853 Shares of The Scotts Miracle-Gro Company $SMG

Hsbc Holdings PLC lessened its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 8.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,228 shares of the basic materials company’s stock after selling 7,853 shares during the quarter. Hsbc Holdings PLC owned approximately 0.14% of Scotts Miracle-Gro worth $4,927,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Key Capital Management INC bought a new stake in Scotts Miracle-Gro during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Scotts Miracle-Gro during the third quarter valued at $32,000. SBI Securities Co. Ltd. raised its stake in shares of Scotts Miracle-Gro by 127.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 499 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Scotts Miracle-Gro during the fourth quarter worth $53,000. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Scotts Miracle-Gro by 64.9% during the fourth quarter. Hantz Financial Services Inc. now owns 963 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 379 shares during the period. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Up 2.8%

SMG stock opened at $69.42 on Friday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 38.78 and a beta of 1.81. The Scotts Miracle-Gro Company has a 12-month low of $52.00 and a 12-month high of $75.34. The company’s fifty day simple moving average is $63.70 and its 200 day simple moving average is $63.96.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share for the quarter, topping analysts’ consensus estimates of $3.97 by $0.56. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.41 billion. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $3.98 EPS. Research analysts expect that The Scotts Miracle-Gro Company will post 4.3 earnings per share for the current year.

Analysts Set New Price Targets

SMG has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price objective on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a report on Monday, June 8th. Wells Fargo & Company lifted their target price on Scotts Miracle-Gro from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th. Wall Street Zen raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, UBS Group raised their price objective on Scotts Miracle-Gro from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Scotts Miracle-Gro currently has a consensus rating of “Hold” and a consensus target price of $73.00.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.