TimesSquare Capital Management LLC Boosts Stake in The Scotts Miracle-Gro Company (NYSE:SMG)

TimesSquare Capital Management LLC boosted its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 49.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,200 shares of the basic materials company’s stock after buying an additional 31,300 shares during the period. TimesSquare Capital Management LLC owned 0.17% of The Scotts Miracle-Gro worth $23,076,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Nicollet Investment Management Inc. lifted its holdings in The Scotts Miracle-Gro by 0.6% during the first quarter. Nicollet Investment Management Inc. now owns 7,955 shares of the basic materials company’s stock worth $1,949,000 after buying an additional 49 shares during the period. HighPoint Advisor Group LLC lifted its holdings in The Scotts Miracle-Gro by 2.3% during the first quarter. HighPoint Advisor Group LLC now owns 2,243 shares of the basic materials company’s stock worth $558,000 after buying an additional 51 shares during the period. Tower View Investment Management & Research LLC lifted its holdings in The Scotts Miracle-Gro by 0.4% during the first quarter. Tower View Investment Management & Research LLC now owns 14,041 shares of the basic materials company’s stock worth $3,440,000 after buying an additional 52 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in The Scotts Miracle-Gro by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 13,537 shares of the basic materials company’s stock worth $3,316,000 after buying an additional 57 shares during the period. Finally, Berman Capital Advisors LLC lifted its holdings in The Scotts Miracle-Gro by 88.3% during the fourth quarter. Berman Capital Advisors LLC now owns 145 shares of the basic materials company’s stock worth $28,000 after buying an additional 68 shares during the period. Institutional investors own 63.38% of the company’s stock.

SMG has been the topic of a number of recent analyst reports. Truist Securities upped their price target on The Scotts Miracle-Gro from $275.00 to $300.00 in a research report on Thursday, May 6th. Raymond James upped their price target on The Scotts Miracle-Gro from $300.00 to $305.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, June 2nd. Finally, Truist upped their price target on The Scotts Miracle-Gro from $275.00 to $300.00 in a research report on Thursday, May 6th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The Scotts Miracle-Gro currently has an average rating of “Buy” and a consensus price target of $247.57.

NYSE SMG opened at $194.05 on Friday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.15 and a current ratio of 1.91. The firm has a fifty day moving average price of $228.69. The Scotts Miracle-Gro Company has a 1 year low of $126.75 and a 1 year high of $254.34. The firm has a market cap of $10.81 billion, a P/E ratio of 20.47 and a beta of 1.15.

The Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, May 5th. The basic materials company reported $5.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.51 by $0.13. The Scotts Miracle-Gro had a return on equity of 67.91% and a net margin of 10.91%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the firm earned $4.50 EPS. The firm’s revenue was up 32.3% on a year-over-year basis. As a group, sell-side analysts predict that The Scotts Miracle-Gro Company will post 9.02 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Thursday, May 27th were given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Wednesday, May 26th. The Scotts Miracle-Gro’s payout ratio is 34.25%.

In other The Scotts Miracle-Gro news, Director Peter E. Shumlin sold 1,500 shares of the stock in a transaction dated Wednesday, March 17th. The stock was sold at an average price of $232.56, for a total transaction of $348,840.00. Following the sale, the director now directly owns 8,659 shares of the company’s stock, valued at approximately $2,013,737.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Hagedorn sold 26,005 shares of the stock in a transaction dated Friday, May 14th. The stock was sold at an average price of $229.98, for a total value of $5,980,629.90. Following the sale, the chief executive officer now directly owns 99,719 shares in the company, valued at $22,933,375.62. The disclosure for this sale can be found here. Insiders have sold a total of 53,998 shares of company stock worth $12,398,987 over the last ninety days. 27.17% of the stock is owned by insiders.

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

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