Kestrel Investment Management Corp Acquires New Holdings in The Scotts Miracle-Gro Company $SMG

Kestrel Investment Management Corp acquired a new position in The Scotts Miracle-Gro Company (NYSE:SMG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 39,300 shares of the basic materials company’s stock, valued at approximately $2,390,000. Kestrel Investment Management Corp owned approximately 0.07% of Scotts Miracle-Gro as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Key Capital Management INC bought a new stake in Scotts Miracle-Gro during the 4th quarter valued at $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Scotts Miracle-Gro in the 3rd quarter worth $32,000. SBI Securities Co. Ltd. lifted its stake in shares of Scotts Miracle-Gro by 127.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 499 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Scotts Miracle-Gro during the 4th quarter worth $53,000. Finally, Hantz Financial Services Inc. boosted its position in Scotts Miracle-Gro by 64.9% during the fourth quarter. Hantz Financial Services Inc. now owns 963 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Up 7.7%

SMG stock opened at $73.25 on Friday. The firm has a 50 day moving average of $62.52 and a 200 day moving average of $63.54. The stock has a market capitalization of $4.26 billion, a PE ratio of 40.92 and a beta of 1.81. The Scotts Miracle-Gro Company has a 52 week low of $52.00 and a 52 week high of $75.30.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.97 by $0.56. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. Scotts Miracle-Gro’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.98 EPS. On average, equities research analysts expect that The Scotts Miracle-Gro Company will post 4.3 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.6%. Scotts Miracle-Gro’s payout ratio is 147.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SMG shares. Jefferies Financial Group reiterated a “buy” rating and issued a $79.00 target price on shares of Scotts Miracle-Gro in a research note on Wednesday, April 29th. Wells Fargo & Company raised their price target on shares of Scotts Miracle-Gro from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Stifel Nicolaus decreased their target price on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, June 8th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.00.

Scotts Miracle-Gro Company Profile

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.