Private Advisor Group LLC decreased its holdings in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,636 shares of the basic materials company’s stock after selling 416 shares during the period. Private Advisor Group LLC’s holdings in Scotts Miracle-Gro were worth $1,430,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of SMG. Victory Capital Management Inc. raised its stake in shares of Scotts Miracle-Gro by 6.5% in the first quarter. Victory Capital Management Inc. now owns 14,319 shares of the basic materials company’s stock valued at $1,466,000 after acquiring an additional 871 shares during the last quarter. Aperio Group LLC raised its stake in shares of Scotts Miracle-Gro by 19.0% in the first quarter. Aperio Group LLC now owns 25,239 shares of the basic materials company’s stock valued at $2,584,000 after acquiring an additional 4,031 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Scotts Miracle-Gro in the first quarter valued at approximately $224,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Scotts Miracle-Gro by 12.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,558 shares of the basic materials company’s stock valued at $364,000 after acquiring an additional 385 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Scotts Miracle-Gro by 62.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 311 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 120 shares during the last quarter. Institutional investors own 64.86% of the company’s stock.
In other Scotts Miracle-Gro news, Director Katherine Littlefield Hagedorn sold 2,506 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $132.68, for a total transaction of $332,496.08. Following the transaction, the director now owns 5,980 shares in the company, valued at approximately $793,426.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ivan C. Smith sold 2,972 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $164.40, for a total transaction of $488,596.80. Following the sale, the executive vice president now directly owns 10,674 shares of the company’s stock, valued at approximately $1,754,805.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,685 shares of company stock worth $19,761,267. 28.20% of the stock is owned by company insiders.
Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, July 29th. The basic materials company reported $3.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.37 by $0.43. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. Scotts Miracle-Gro’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.11 EPS. On average, analysts anticipate that Scotts Miracle-Gro Co will post 6.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 27th were paid a $0.62 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $2.48 dividend on an annualized basis and a yield of 1.54%. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. Scotts Miracle-Gro’s dividend payout ratio is 55.48%.
SMG has been the subject of a number of research reports. SunTrust Banks raised their price target on shares of Scotts Miracle-Gro from $155.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Raymond James reissued a “hold” rating on shares of Scotts Miracle-Gro in a report on Thursday, August 6th. Finally, William Blair reissued a “buy” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $128.50.
Scotts Miracle-Gro Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.
Featured Story: Why do companies issue monthly dividends?
Want to see what other hedge funds are holding SMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scotts Miracle-Gro Co (NYSE:SMG).
Receive News & Ratings for Scotts Miracle-Gro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scotts Miracle-Gro and related companies with MarketBeat.com's FREE daily email newsletter.