RPG Investment Advisory LLC boosted its position in Scotts Miracle-Gro Co (NYSE:SMG) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 61,622 shares of the basic materials company’s stock after purchasing an additional 1,346 shares during the period. RPG Investment Advisory LLC’s holdings in Scotts Miracle-Gro were worth $4,851,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in SMG. Deprince Race & Zollo Inc. purchased a new stake in shares of Scotts Miracle-Gro during the 3rd quarter valued at $18,377,000. Fisher Asset Management LLC grew its stake in shares of Scotts Miracle-Gro by 14.4% during the 2nd quarter. Fisher Asset Management LLC now owns 1,506,427 shares of the basic materials company’s stock valued at $125,274,000 after buying an additional 189,193 shares during the period. Wells Fargo & Company MN grew its stake in shares of Scotts Miracle-Gro by 25.3% during the 3rd quarter. Wells Fargo & Company MN now owns 663,861 shares of the basic materials company’s stock valued at $52,266,000 after buying an additional 133,968 shares during the period. Apertura Capital LLC purchased a new stake in shares of Scotts Miracle-Gro during the 2nd quarter valued at $9,979,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Scotts Miracle-Gro during the 3rd quarter valued at $9,103,000. 65.21% of the stock is owned by institutional investors.
In related news, Director Nancy G. Mistretta sold 6,300 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $76.93, for a total transaction of $484,659.00. Following the completion of the sale, the director now directly owns 20,824 shares of the company’s stock, valued at approximately $1,601,990.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 29.14% of the stock is currently owned by corporate insiders.
Scotts Miracle-Gro stock traded up $1.77 during trading on Wednesday, reaching $72.67. 231,917 shares of the company’s stock were exchanged, compared to its average volume of 491,027. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 3.72. Scotts Miracle-Gro Co has a 52-week low of $65.20 and a 52-week high of $110.12. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 3.76 and a beta of 0.42.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, November 7th. The basic materials company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.08). Scotts Miracle-Gro had a return on equity of 43.37% and a net margin of 6.80%. The business had revenue of $434.00 million for the quarter, compared to analysts’ expectations of $441.10 million. During the same period last year, the company posted ($0.26) earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts forecast that Scotts Miracle-Gro Co will post 3.77 earnings per share for the current year.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Bank of America raised shares of Scotts Miracle-Gro from an “underperform” rating to a “neutral” rating and set a $72.00 price target for the company in a research report on Wednesday, October 24th. They noted that the move was a valuation call. ValuEngine cut shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Scotts Miracle-Gro from $85.00 to $70.00 and set an “underweight” rating for the company in a research report on Friday, August 24th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $85.00.
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Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including 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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