Epoch Investment Partners Inc. Makes New Investment in The Scotts Miracle-Gro Company $SMG

Epoch Investment Partners Inc. bought a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 823,183 shares of the basic materials company’s stock, valued at approximately $50,058,000.

Other large investors have also modified their holdings of the company. Empowered Funds LLC boosted its stake in shares of Scotts Miracle-Gro by 26.3% during the first quarter. Empowered Funds LLC now owns 7,524 shares of the basic materials company’s stock valued at $413,000 after purchasing an additional 1,569 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Scotts Miracle-Gro by 18.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,882 shares of the basic materials company’s stock worth $8,227,000 after buying an additional 23,446 shares in the last quarter. Prudential Financial Inc. raised its stake in Scotts Miracle-Gro by 34.6% in the second quarter. Prudential Financial Inc. now owns 4,745 shares of the basic materials company’s stock worth $342,000 after buying an additional 1,219 shares in the last quarter. Invesco Ltd. lifted its holdings in Scotts Miracle-Gro by 71.2% during the second quarter. Invesco Ltd. now owns 247,749 shares of the basic materials company’s stock worth $16,342,000 after buying an additional 102,997 shares during the period. Finally, Baird Financial Group Inc. purchased a new stake in Scotts Miracle-Gro during the second quarter worth $309,000. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Up 2.8%

NYSE SMG opened at $69.42 on Friday. The firm’s fifty day simple moving average is $63.70 and its two-hundred day simple moving average is $63.96. The Scotts Miracle-Gro Company has a 12-month low of $52.00 and a 12-month high of $75.34. The firm has a market capitalization of $4.04 billion, a P/E ratio of 38.78 and a beta of 1.81.

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, topping analysts’ consensus estimates of $3.97 by $0.56. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the firm posted $3.98 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts predict that The Scotts Miracle-Gro Company will post 4.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SMG has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $79.00 target price on shares of Scotts Miracle-Gro in a research report on Wednesday, April 29th. Stifel Nicolaus decreased their price objective on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, June 8th. UBS Group raised their price objective on Scotts Miracle-Gro from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Wells Fargo & Company increased their price target on shares of Scotts Miracle-Gro from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $73.00.

About Scotts Miracle-Gro

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.