Scotts Miracle-Gro Co (SMG) Shares Sold by New York State Teachers Retirement System
New York State Teachers Retirement System decreased its stake in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,573 shares of the basic materials company’s stock after selling 1,200 shares during the period. New York State Teachers Retirement System’s holdings in Scotts Miracle-Gro were worth $5,703,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in SMG. Norges Bank acquired a new position in Scotts Miracle-Gro during the 4th quarter valued at about $31,340,000. FMR LLC increased its stake in Scotts Miracle-Gro by 21.5% during the 4th quarter. FMR LLC now owns 2,363,127 shares of the basic materials company’s stock valued at $145,238,000 after buying an additional 418,722 shares during the period. Gotham Asset Management LLC acquired a new position in Scotts Miracle-Gro during the 4th quarter valued at about $11,313,000. ETF Managers Group LLC acquired a new position in Scotts Miracle-Gro during the 4th quarter valued at about $10,158,000. Finally, Markel Corp increased its stake in Scotts Miracle-Gro by 67.4% during the 1st quarter. Markel Corp now owns 298,000 shares of the basic materials company’s stock valued at $23,417,000 after buying an additional 120,000 shares during the period. 66.57% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on SMG shares. ValuEngine cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. raised shares of Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 price objective on the stock in a research note on Thursday, January 31st. Bank of America cut shares of Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $81.00 to $83.00 in a research note on Thursday, May 2nd. TheStreet raised shares of Scotts Miracle-Gro from a “c” rating to a “b” rating in a research note on Wednesday, May 1st. Finally, Raymond James cut shares of 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 note on Wednesday, March 27th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Scotts Miracle-Gro has an average rating of “Hold” and a consensus target price of $76.03.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.42 by $0.22. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.88 EPS. As a group, research analysts forecast that Scotts Miracle-Gro Co will post 4.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be paid a $0.55 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.20 annualized dividend and a dividend yield of 2.48%. Scotts Miracle-Gro’s dividend payout ratio is currently 59.30%.
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Scotts Miracle-Gro 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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