First Allied Advisory Services Inc. raised its position in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 14.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,284 shares of the basic materials company’s stock after purchasing an additional 541 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Scotts Miracle-Gro were worth $334,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the business. Enlightenment Research LLC purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at about $25,000. Toronto Dominion Bank purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at about $27,000. Rehmann Capital Advisory Group lifted its position in shares of Scotts Miracle-Gro by 35.8% during the 4th quarter. Rehmann Capital Advisory Group now owns 618 shares of the basic materials company’s stock valued at $38,000 after buying an additional 163 shares in the last quarter. Shine Investment Advisory Services Inc. lifted its position in shares of Scotts Miracle-Gro by 106.5% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 510 shares of the basic materials company’s stock valued at $40,000 after buying an additional 263 shares in the last quarter. Finally, Bedel Financial Consulting Inc. lifted its position in shares of Scotts Miracle-Gro by 58.5% during the 1st quarter. Bedel Financial Consulting Inc. now owns 515 shares of the basic materials company’s stock valued at $40,000 after buying an additional 190 shares in the last quarter. Institutional investors and hedge funds own 66.57% of the company’s stock.
SMG stock opened at $88.40 on Friday. Scotts Miracle-Gro Co has a twelve month low of $57.96 and a twelve month high of $94.49. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.00 and a current ratio of 1.59. The stock has a market cap of $4.96 billion, a PE ratio of 23.83, a P/E/G ratio of 1.97 and a beta of 0.94.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.42 by $0.22. Scotts Miracle-Gro had a return on equity of 53.15% and a net margin of 8.67%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm earned $2.88 EPS. The business’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities analysts forecast that Scotts Miracle-Gro Co will post 4.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be issued a $0.55 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.20 dividend on an annualized basis and a yield of 2.49%. Scotts Miracle-Gro’s dividend payout ratio is presently 59.30%.
A number of research analysts have recently weighed in on SMG shares. Raymond James cut Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 price objective on the stock. in a research report on Wednesday, March 27th. They noted that the move was a valuation call. ValuEngine cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Bank of America cut Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and lifted their price objective for the company from $81.00 to $83.00 in a research report on Thursday, May 2nd. TheStreet raised Scotts Miracle-Gro from a “c” rating to a “b” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 price objective on the stock in a research report on Thursday, January 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Scotts Miracle-Gro has a consensus rating of “Hold” and a consensus price target of $76.03.
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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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