Interval Partners LP Buys 364,285 Shares of The Scotts Miracle-Gro Company $SMG

Interval Partners LP grew its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 82.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 807,061 shares of the basic materials company’s stock after purchasing an additional 364,285 shares during the period. Scotts Miracle-Gro comprises approximately 0.8% of Interval Partners LP’s portfolio, making the stock its 25th biggest position. Interval Partners LP’s holdings in Scotts Miracle-Gro were worth $47,092,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elo Mutual Pension Insurance Co increased its holdings in Scotts Miracle-Gro by 101.4% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 41,408 shares of the basic materials company’s stock worth $2,358,000 after purchasing an additional 20,843 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Scotts Miracle-Gro by 21.4% in the third quarter. JPMorgan Chase & Co. now owns 155,498 shares of the basic materials company’s stock valued at $8,856,000 after acquiring an additional 27,422 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Scotts Miracle-Gro by 46.6% in the fourth quarter. Sound Income Strategies LLC now owns 230,966 shares of the basic materials company’s stock valued at $14,692,000 after acquiring an additional 73,455 shares in the last quarter. SG Capital Management LLC bought a new position in shares of Scotts Miracle-Gro in the third quarter valued at approximately $3,032,000. Finally, Captrust Financial Advisors grew its holdings in shares of Scotts Miracle-Gro by 14.5% in the third quarter. Captrust Financial Advisors now owns 1,154,815 shares of the basic materials company’s stock valued at $65,767,000 after acquiring an additional 146,192 shares in the last quarter. 74.07% of the stock is owned by institutional investors.

Scotts Miracle-Gro Trading Down 0.7%

Scotts Miracle-Gro stock opened at $62.64 on Thursday. The Scotts Miracle-Gro Company has a 12 month low of $52.00 and a 12 month high of $72.35. The business’s 50 day simple moving average is $61.09 and its 200 day simple moving average is $62.03. The company has a market cap of $3.64 billion, a price-to-earnings ratio of 34.99 and a beta of 1.84.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, April 29th. The basic materials company reported $4.53 EPS for the quarter, beating the consensus estimate of $3.97 by $0.56. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the business earned $3.98 earnings per share. Scotts Miracle-Gro’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts forecast that The Scotts Miracle-Gro Company will post 4.36 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $0.66 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.64 annualized dividend and a yield of 4.2%. Scotts Miracle-Gro’s dividend payout ratio is presently 147.49%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SMG. Stifel Nicolaus reduced their target price on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a report on Monday, June 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 target price on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. JPMorgan Chase & Co. lowered Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $70.00 to $67.00 in a report on Thursday, March 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Monday, May 4th. Finally, Wells Fargo & Company reduced their target price on Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Scotts Miracle-Gro currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.67.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.