Sei Investments Co. decreased its position in Scotts Miracle-Gro Co (NYSE:SMG) by 19.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,538 shares of the basic materials company’s stock after selling 25,530 shares during the period. Sei Investments Co.’s holdings in Scotts Miracle-Gro were worth $13,789,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Scotts Miracle-Gro by 103.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 777,813 shares of the basic materials company’s stock valued at $79,648,000 after buying an additional 394,650 shares in the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at approximately $46,955,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Scotts Miracle-Gro by 11.9% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,271,995 shares of the basic materials company’s stock valued at $437,868,000 after purchasing an additional 347,094 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in Scotts Miracle-Gro in the second quarter worth $30,219,000. Finally, Vanguard Group Inc. raised its holdings in Scotts Miracle-Gro by 4.3% in the second quarter. Vanguard Group Inc. now owns 4,758,410 shares of the basic materials company’s stock worth $639,863,000 after purchasing an additional 194,885 shares in the last quarter. Institutional investors and hedge funds own 64.86% of the company’s stock.
A number of analysts have recently commented on the stock. SunTrust Banks boosted their target price 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. William Blair restated a “buy” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 9th. Finally, Raymond James restated a “hold” rating on shares of Scotts Miracle-Gro in a report on Thursday, August 6th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Scotts Miracle-Gro has a consensus rating of “Hold” and a consensus target price of $128.50.
Shares of NYSE:SMG opened at $160.57 on Wednesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.16 and a current ratio of 1.61. The firm has a fifty day moving average price of $162.17 and a 200 day moving average price of $134.41. Scotts Miracle-Gro Co has a fifty-two week low of $76.50 and a fifty-two week high of $176.08. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 28.17 and a beta of 1.05.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $3.80 EPS for the quarter, topping the consensus estimate of $3.37 by $0.43. Scotts Miracle-Gro had a net margin of 8.71% and a return on equity of 45.36%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the company earned $3.11 EPS. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. As a group, research analysts predict that Scotts Miracle-Gro Co will post 6.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 1.54%. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.58. The ex-dividend date was Wednesday, August 26th. Scotts Miracle-Gro’s dividend payout ratio is 55.48%.
Scotts Miracle-Gro Company 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.
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