Scotts Miracle-Gro Co (NYSE:SMG) Sees Large Decline in Short Interest

Scotts Miracle-Gro Co (NYSE:SMG) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 3,256,400 shares, a drop of 8.2% from the May 30th total of 3,545,400 shares. Based on an average trading volume of 424,900 shares, the days-to-cover ratio is presently 7.7 days. Currently, 8.4% of the shares of the company are short sold.

Shares of SMG stock traded up $1.10 on Friday, hitting $99.99. 241,880 shares of the stock traded hands, compared to its average volume of 395,373. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 2.18 and a beta of 0.87. Scotts Miracle-Gro has a 52 week low of $57.96 and a 52 week high of $101.11. The business has a 50 day moving average price of $95.46. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 3.28.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.42 by $0.22. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm earned $2.88 EPS. Analysts forecast that Scotts Miracle-Gro will post 4.33 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Front Row Advisors LLC bought a new stake in shares of Scotts Miracle-Gro during the 1st quarter valued at $25,000. Shine Investment Advisory Services Inc. raised its position in shares of Scotts Miracle-Gro by 106.5% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 510 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 263 shares during the period. Bedel Financial Consulting Inc. increased its holdings in Scotts Miracle-Gro by 58.5% in the 1st quarter. Bedel Financial Consulting Inc. now owns 515 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 190 shares during the last quarter. Zions Bancorporation N.A. bought a new stake in Scotts Miracle-Gro in the 1st quarter valued at $49,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Scotts Miracle-Gro by 45.9% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 671 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 211 shares during the last quarter. Hedge funds and other institutional investors own 66.04% of the company’s stock.

Several brokerages have recently weighed in on SMG. ValuEngine cut shares of Willdan Group from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Bank of America set a $54.00 price target on shares of Fortis and gave the stock a “buy” rating in a research note on Thursday, May 2nd. TheStreet cut shares of ZTO Express (Cayman) from a “b+” rating to a “c” rating in a research note on Wednesday, May 1st. Finally, Raymond James reiterated a “market perform” rating and set a C$43.00 price target on shares of Snc-Lavalin Group in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Scotts Miracle-Gro currently has an average rating of “Hold” and an average target price of $76.03.

Scotts Miracle-Gro Company 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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