NFJ Investment Group LLC Purchases Shares of 45,534 The Scotts Miracle-Gro Company $SMG

NFJ Investment Group LLC purchased a new stake in The Scotts Miracle-Gro Company (NYSE:SMG) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 45,534 shares of the basic materials company’s stock, valued at approximately $2,657,000.

A number of other hedge funds also recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. boosted its holdings in shares of Scotts Miracle-Gro by 11.4% in the 4th quarter. Financial Gravity Asset Management Inc. now owns 39,998 shares of the basic materials company’s stock valued at $2,334,000 after purchasing an additional 4,097 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at $365,000. Quinn Opportunity Partners LLC boosted its holdings in shares of Scotts Miracle-Gro by 10.5% in the 4th quarter. Quinn Opportunity Partners LLC now owns 49,056 shares of the basic materials company’s stock valued at $2,862,000 after purchasing an additional 4,652 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Scotts Miracle-Gro by 7.5% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 40,308 shares of the basic materials company’s stock valued at $2,351,000 after purchasing an additional 2,801 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of Scotts Miracle-Gro by 37.6% in the 4th quarter. Segall Bryant & Hamill LLC now owns 189,677 shares of the basic materials company’s stock valued at $11,068,000 after purchasing an additional 51,872 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Up 0.1%

NYSE:SMG opened at $61.71 on Monday. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 34.47 and a beta of 1.84. The firm’s fifty day simple moving average is $61.17 and its 200 day simple moving average is $61.89. The Scotts Miracle-Gro Company has a twelve month low of $52.00 and a twelve month high of $72.35.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share for the quarter, beating the consensus estimate of $3.97 by $0.56. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.98 EPS. On average, analysts predict that The Scotts Miracle-Gro Company will post 4.36 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a $0.66 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.64 dividend on an annualized basis and a yield of 4.3%. Scotts Miracle-Gro’s payout ratio is currently 147.49%.

Wall Street Analyst Weigh In

SMG has been the topic of a number of research analyst reports. Wells Fargo & Company decreased their price target on shares of Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $70.00 to $67.00 in a report on Thursday, March 26th. UBS Group restated a “neutral” rating and set a $63.00 target price on shares of Scotts Miracle-Gro in a report on Tuesday, June 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Monday, May 4th. Finally, Jefferies Financial Group restated a “buy” rating and set a $79.00 target price on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Scotts Miracle-Gro currently has an average rating of “Moderate Buy” and a consensus target price of $72.67.

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.