Nuveen Asset Management LLC lowered its stake in shares of The Scotts Miracle-Gro Company (NYSE: SMG – Get Rating) by 15.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,398 shares of the basic materials company stock after selling 27,761 shares during the period. Nuveen Asset Management LLC owned approximately 0.27% of Scotts Miracle-Gro worth $ 23,892,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of SMG. First Eagle Investment Management LLC lifted its holdings in shares of Scotts Miracle-Gro by 159.4% during the 4th quarter. First Eagle Investment Management LLC now owns 1,177,704 shares of the basic materials company stock valued at $ 189,610,000 after purchasing an additional 723,672 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Scotts Miracle-Gro by 3.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,942,266 shares of the basic materials company stock valued at $ 795,708,000 after purchasing an additional 182,828 shares in the last quarter. Clark Capital Management Group Inc. acquired a new stake in Scotts Miracle-Gro in the 4th quarter valued at approximately $ 26,901,000. Morgan Stanley raised its position in Scotts Miracle-Gro by 61.7% in the 2nd quarter. Morgan Stanley now owns 378,698 shares of the basic materials company stock valued at $ 72,680,000 after buying an additional 144,478 shares during the last quarter. Finally, Raymond James & Associates raised its position in Scotts Miracle-Gro by 28.0% in the 4th quarter. Raymond James & Associates now owns 543,633 shares of the basic materials company stock valued at $ 87,527,000 after buying an additional 119,068 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company stock.
A number of equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Scotts Miracle-Gro from $ 145.00 to $ 130.00 and set an “overweight” rating on the stock in a research report on Thursday, June 2nd. Raymond James dropped their target price on Scotts Miracle-Gro from $ 185.00 to $ 150.00 and set a “strong-buy” rating on the stock in a research report on Monday, March 14th. StockNews.com lowered Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Saturday, May 21st. Truist Financial lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating and dropped their target price for the company from $ 185.00 to $ 85.00 in a research report on Wednesday. Finally, Stifel Nicolaus lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating and lowered their price target for the stock from $ 130.00 to $ 116.00 in a research report on Wednesday, May 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $ 147.33.
In related news, Director Stephen L. Johnson sold 2,305 shares of the business’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $ 113.36, for a total value of $ 261,294.80. Following the completion of the sale, the director now directly owns 20,233 shares in the company, valued at approximately $ 2,293,612.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James Hagedorn sold 60,000 shares of the business’s stock in a transaction on Friday, May 13th. The shares were sold at an average price of $ 97.74, for a total value of $ 5,864,400.00. Following the completion of the sale, the chief executive officer now owns 261,816 shares of the company stock, valued at $ 25,589,895.84. The disclosure for this sale can be found here. Insiders have sold a total of 79,805 shares of company stock worth $ 7,848,045 over the last three months. 27.31% of the stock is owned by insiders.
NYSE: SMG opened at $ 93.13 on Thursday. The firm has a market capitalization of $ 5.16 billion, a price-to-earnings ratio of 13.08 and a beta of 1.19. The Scotts Miracle-Gro Company has a twelve month low of $ 87.11 and a twelve month high of $ 204.45. The stock’s 50 day moving average price is $ 104.60 and its two-hundred day moving average price is $ 130.90. The company has a quick ratio of 1.13, a current ratio of 2.21 and a debt-to-equity ratio of 3.44.
Scotts Miracle-Gro (NYSE: SMG – Get Rating) last posted its earnings results on Tuesday, May 3rd. The basic materials company reported $ 5.03 earnings per share for the quarter, topping analysts’ consensus estimates of $ 4.69 by $ 0.34. The business had revenue of $ 1.68 billion for the quarter, compared to analyst estimates of $ 1.68 billion. Scotts Miracle-Gro had a return on equity of 42.22% and a net margin of 8.81%. The firm’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $ 5.64 EPS. As a group, analysts anticipate that The Scotts Miracle-Gro Company will post 7 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 27th will be issued a dividend of $ 0.66 per share. This represents a $ 2.64 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Thursday, May 26th. Scotts Miracle-Gro’s payout ratio is presently 37.08%.
About Scotts Miracle-Gro: (Get Rating)
The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: US Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.
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