Crystal Rock Capital Management lifted its position in Scotts Miracle-Gro Co (NYSE:SMG) by 74.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 57,160 shares of the basic materials company’s stock after buying an additional 24,300 shares during the quarter. Scotts Miracle-Gro accounts for about 3.3% of Crystal Rock Capital Management’s investment portfolio, making the stock its 15th biggest holding. Crystal Rock Capital Management’s holdings in Scotts Miracle-Gro were worth $4,492,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Huntington National Bank grew its stake in shares of Scotts Miracle-Gro by 4.6% in the 1st quarter. Huntington National Bank now owns 2,838 shares of the basic materials company’s stock valued at $223,000 after buying an additional 125 shares in the last quarter. Eukles Asset Management boosted its position in Scotts Miracle-Gro by 3.9% during the first quarter. Eukles Asset Management now owns 3,345 shares of the basic materials company’s stock worth $263,000 after purchasing an additional 125 shares during the period. US Bancorp DE boosted its position in Scotts Miracle-Gro by 1.0% during the first quarter. US Bancorp DE now owns 13,917 shares of the basic materials company’s stock worth $1,093,000 after purchasing an additional 132 shares during the period. LS Investment Advisors LLC boosted its position in Scotts Miracle-Gro by 6.8% during the fourth quarter. LS Investment Advisors LLC now owns 2,305 shares of the basic materials company’s stock worth $142,000 after purchasing an additional 146 shares during the period. Finally, Rehmann Capital Advisory Group boosted its position in Scotts Miracle-Gro by 35.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 618 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 163 shares during the period. 66.57% of the stock is owned by institutional investors and hedge funds.
SMG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 target price for the company in a research report on Thursday, January 31st. Bank of America cut Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $81.00 to $83.00 in a research report on Thursday, May 2nd. ValuEngine raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. TheStreet raised Scotts Miracle-Gro from a “c” rating to a “b” rating in a research report on Wednesday, May 1st. Finally, Raymond James cut Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 target price for the company. in a research report on Wednesday, March 27th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $76.03.
Shares of Scotts Miracle-Gro stock opened at $89.38 on Thursday. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 1.97 and a beta of 0.94. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.59 and a quick ratio of 1.00. Scotts Miracle-Gro Co has a 12-month low of $57.96 and a 12-month high of $94.49.
Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.42 by $0.22. Scotts Miracle-Gro had a return on equity of 53.15% and a net margin of 8.67%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business earned $2.88 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. As a group, equities analysts predict that Scotts Miracle-Gro Co will post 4.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.46%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 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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