Eagle Asset Management Inc. Increases Holdings in Scotts Miracle-Gro Co (SMG)

Eagle Asset Management Inc. raised its holdings in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 8.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 374,336 shares of the basic materials company’s stock after purchasing an additional 29,727 shares during the quarter. Eagle Asset Management Inc.’s holdings in Scotts Miracle-Gro were worth $40,157,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. First Eagle Investment Management LLC lifted its holdings in Scotts Miracle-Gro by 1.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 3,201,071 shares of the basic materials company’s stock valued at $311,592,000 after purchasing an additional 50,860 shares during the last quarter. Earnest Partners LLC lifted its holdings in Scotts Miracle-Gro by 0.8% during the 3rd quarter. Earnest Partners LLC now owns 1,316,284 shares of the basic materials company’s stock valued at $128,127,000 after purchasing an additional 10,341 shares during the last quarter. State Street Corp lifted its holdings in Scotts Miracle-Gro by 1.4% during the 2nd quarter. State Street Corp now owns 1,182,128 shares of the basic materials company’s stock valued at $105,756,000 after purchasing an additional 16,056 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Scotts Miracle-Gro by 17.7% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,046,557 shares of the basic materials company’s stock valued at $101,873,000 after purchasing an additional 157,174 shares during the last quarter. Finally, TimesSquare Capital Management LLC lifted its holdings in Scotts Miracle-Gro by 42.5% during the 3rd quarter. TimesSquare Capital Management LLC now owns 980,450 shares of the basic materials company’s stock valued at $95,437,000 after purchasing an additional 292,250 shares during the last quarter. 67.41% of the stock is owned by institutional investors and hedge funds.

Shares of Scotts Miracle-Gro Co (SMG) opened at $91.55 on Friday. Scotts Miracle-Gro Co has a twelve month low of $81.48 and a twelve month high of $110.12. The company has a current ratio of 2.09, a quick ratio of 0.61 and a debt-to-equity ratio of 3.34. The firm has a market capitalization of $5,197.77, a price-to-earnings ratio of 21.19, a PEG ratio of 1.98 and a beta of 0.20.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Tuesday, January 30th. The basic materials company reported ($1.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.92) by ($0.16). Scotts Miracle-Gro had a return on equity of 38.33% and a net margin of 9.11%. The firm had revenue of $221.50 million for the quarter, compared to analyst estimates of $237.21 million. During the same period in the prior year, the business posted ($0.96) EPS. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. research analysts forecast that Scotts Miracle-Gro Co will post 4.7 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Thursday, February 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently 49.07%.

In other news, Director Katherine Littlefield Hagedorn sold 2,892 shares of Scotts Miracle-Gro stock in a transaction on Monday, February 5th. The stock was sold at an average price of $89.50, for a total transaction of $258,834.00. Following the completion of the sale, the director now owns 9,043 shares of the company’s stock, valued at $809,348.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 29.14% of the stock is currently owned by company insiders.

Several brokerages have issued reports on SMG. KeyCorp reaffirmed a “hold” rating on shares of Scotts Miracle-Gro in a report on Saturday, November 25th. Zacks Investment Research raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Thursday, February 1st. Bank of America raised their price target on Scotts Miracle-Gro from $107.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 8th. SunTrust Banks reaffirmed a “hold” rating and set a $95.00 price target on shares of Scotts Miracle-Gro in a report on Friday, November 10th. Finally, JPMorgan Chase & Co. downgraded Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and set a $99.00 price target for the company. in a report on Wednesday, November 8th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $104.25.

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About Scotts Miracle-Gro

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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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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