Wealth Enhancement Advisory Services LLC bought a new position in shares of Scotts Miracle-Gro Co (NYSE:SMG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,982 shares of the basic materials company’s stock, valued at approximately $1,402,000.
A number of other hedge funds have also bought and sold shares of SMG. Charter Trust Co. purchased a new stake in Scotts Miracle-Gro during the fourth quarter worth approximately $203,000. First Allied Advisory Services Inc. purchased a new stake in Scotts Miracle-Gro in the third quarter valued at approximately $226,000. Private Advisor Group LLC lifted its stake in Scotts Miracle-Gro by 9.0% in the second quarter. Private Advisor Group LLC now owns 2,620 shares of the basic materials company’s stock valued at $239,000 after buying an additional 216 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Scotts Miracle-Gro in the second quarter valued at approximately $247,000. Finally, Jensen Investment Management Inc. purchased a new stake in Scotts Miracle-Gro in the third quarter valued at approximately $258,000. Hedge funds and other institutional investors own 69.18% of the company’s stock.
In other news, EVP Ivan C. Smith sold 6,587 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $97.74, for a total transaction of $643,813.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 29.14% of the stock is owned by corporate insiders.
Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Tuesday, November 7th. The basic materials company reported ($0.26) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.04. Scotts Miracle-Gro had a return on equity of 37.81% and a net margin of 7.51%. The company had revenue of $376.70 million during the quarter, compared to analysts’ expectations of $368.50 million. During the same quarter in the previous year, the business earned ($0.30) earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. equities research analysts expect that Scotts Miracle-Gro Co will post 4.42 EPS for the current year.
SMG has been the subject of a number of research reports. Zacks Investment Research cut Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. KeyCorp reiterated a “hold” rating on shares of Scotts Miracle-Gro in a research note on Monday, October 16th. JPMorgan Chase & Co. cut Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price objective for the company. in a research note on Wednesday, November 8th. Bank of America boosted their price objective on Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 8th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $95.00 price objective on shares of Scotts Miracle-Gro in a research note on Friday, November 10th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $106.25.
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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.
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