Fifth Third Bancorp grew its holdings in The Scotts Miracle-Gro Company (NYSE:SMG – Get Rating) by 25.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,769 shares of the basic materials company’s stock after purchasing an additional 1,966 shares during the quarter. Fifth Third Bancorp’s holdings in Scotts Miracle-Gro were worth $1,201,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. National Asset Management Inc. lifted its stake in Scotts Miracle-Gro by 3.6% in the fourth quarter. National Asset Management Inc. now owns 2,189 shares of the basic materials company’s stock worth $353,000 after acquiring an additional 76 shares during the last quarter. WASHINGTON TRUST Co lifted its stake in Scotts Miracle-Gro by 18.1% in the fourth quarter. WASHINGTON TRUST Co now owns 555 shares of the basic materials company’s stock worth $89,000 after acquiring an additional 85 shares during the last quarter. Xponance Inc. lifted its stake in Scotts Miracle-Gro by 1.0% in the fourth quarter. Xponance Inc. now owns 8,837 shares of the basic materials company’s stock worth $1,423,000 after acquiring an additional 87 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Scotts Miracle-Gro by 1.0% in the fourth quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the basic materials company’s stock worth $1,691,000 after acquiring an additional 100 shares during the last quarter. Finally, State of Michigan Retirement System lifted its stake in Scotts Miracle-Gro by 1.0% in the fourth quarter. State of Michigan Retirement System now owns 10,284 shares of the basic materials company’s stock worth $1,656,000 after acquiring an additional 100 shares during the last quarter. 62.23% of the stock is owned by institutional investors and hedge funds.
SMG has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of Scotts Miracle-Gro from $116.00 to $93.00 in a research note on Tuesday, June 14th. Truist Financial cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and cut their price objective for the stock from $185.00 to $85.00 in a report on Wednesday, June 8th. StockNews.com cut shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a report on Saturday, May 21st. Barclays cut shares of Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $150.00 to $110.00 in a report on Thursday, April 21st. Finally, Raymond James cut their price objective on shares of Scotts Miracle-Gro from $125.00 to $110.00 in a report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $119.29.
In related news, EVP James D. King sold 17,500 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $98.42, for a total value of $1,722,350.00. Following the transaction, the executive vice president now directly owns 9,760 shares in the company, valued at approximately $960,579.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen L. Johnson sold 2,305 shares of Scotts Miracle-Gro stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $113.36, for a total transaction of $261,294.80. Following the completion of the transaction, the director now owns 20,233 shares in the company, valued at $2,293,612.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 79,805 shares of company stock worth $7,848,045. 27.31% of the stock is currently owned by insiders.
Shares of Scotts Miracle-Gro stock opened at $80.18 on Tuesday. The firm’s fifty day simple moving average is $92.04 and its 200-day simple moving average is $121.61. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 11.26 and a beta of 1.23. The Scotts Miracle-Gro Company has a 12 month low of $72.58 and a 12 month high of $191.99. The company has a debt-to-equity ratio of 3.44, a current ratio of 2.21 and a quick ratio of 1.13.
Scotts Miracle-Gro (NYSE:SMG – Get Rating) last announced its earnings results on Tuesday, May 3rd. The basic materials company reported $5.03 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.34. The business had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Scotts Miracle-Gro had a net margin of 8.81% and a return on equity of 42.22%. The company’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $5.64 EPS. Analysts anticipate that The Scotts Miracle-Gro Company will post 4.73 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Friday, May 27th were issued a $0.66 dividend. The ex-dividend date was Thursday, May 26th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.29%. Scotts Miracle-Gro’s payout ratio is 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: U.S. 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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