Eagle Asset Management Inc. Has $33.89 Million Position in Scotts Miracle-Gro Co (NYSE:SMG)

Eagle Asset Management Inc. increased its position in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 344,609 shares of the basic materials company’s stock after purchasing an additional 17,305 shares during the period. Eagle Asset Management Inc. owned approximately 0.59% of Scotts Miracle-Gro worth $33,888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SMG. Assenagon Asset Management S.A. purchased a new position in Scotts Miracle-Gro in the third quarter valued at about $487,000. Cadence Capital Management LLC increased its holdings in Scotts Miracle-Gro by 5.9% in the second quarter. Cadence Capital Management LLC now owns 5,511 shares of the basic materials company’s stock valued at $493,000 after buying an additional 308 shares in the last quarter. Vanguard Group Inc. increased its holdings in Scotts Miracle-Gro by 1.0% in the second quarter. Vanguard Group Inc. now owns 3,882,566 shares of the basic materials company’s stock valued at $347,335,000 after buying an additional 39,851 shares in the last quarter. Arizona State Retirement System increased its holdings in Scotts Miracle-Gro by 1.1% in the second quarter. Arizona State Retirement System now owns 18,600 shares of the basic materials company’s stock valued at $1,664,000 after buying an additional 200 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Scotts Miracle-Gro by 666.4% in the third quarter. IFP Advisors Inc now owns 4,790 shares of the basic materials company’s stock valued at $466,000 after buying an additional 4,165 shares in the last quarter. 69.11% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently commented on the stock. KeyCorp reiterated a “hold” rating on shares of Scotts Miracle-Gro in a research report on Monday, October 16th. Zacks Investment Research lowered shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Bank of America lifted their price target on shares of Scotts Miracle-Gro from $107.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. SunTrust Banks reaffirmed a “hold” rating and set a $95.00 price target on shares of Scotts Miracle-Gro in a research note on Friday, November 10th. Finally, J P Morgan Chase & Co downgraded shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 target price for the company. in a research report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $101.33.

Shares of Scotts Miracle-Gro Co (NYSE:SMG) opened at $102.07 on Friday. The firm has a market cap of $5,908.34, a P/E ratio of 24.51, a PEG ratio of 2.43 and a beta of 0.36. Scotts Miracle-Gro Co has a one year low of $81.48 and a one year high of $103.36. The company has a quick ratio of 0.87, a current ratio of 1.62 and a debt-to-equity ratio of 1.90.

Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Tuesday, November 7th. The basic materials company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. Scotts Miracle-Gro had a net margin of 7.51% and a return on equity of 37.81%. The business had revenue of $376.70 million for the quarter, compared to the consensus estimate of $368.50 million. During the same period in the previous year, the firm earned ($0.30) EPS. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. research analysts anticipate that Scotts Miracle-Gro Co will post 4.3 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Friday, November 24th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.08%. The ex-dividend date was Wednesday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is 58.89%.

In related news, CFO Thomas Randal Coleman sold 1,226 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $99.67, for a total transaction of $122,195.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ivan C. Smith sold 6,587 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $97.74, for a total transaction of $643,813.38. The disclosure for this sale can be found here. Insiders sold 12,813 shares of company stock valued at $1,266,559 over the last three months. Insiders own 28.16% of the company’s stock.

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Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.

Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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