The Scotts Miracle-Gro Company (NYSE:SMG) Stock Holdings Cut by State of Wisconsin Investment Board

State of Wisconsin Investment Board cut its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,903 shares of the basic materials company’s stock after selling 236 shares during the quarter. State of Wisconsin Investment Board’s holdings in The Scotts Miracle-Gro were worth $941,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC boosted its stake in shares of The Scotts Miracle-Gro by 123.1% during the 1st quarter. Hexagon Capital Partners LLC now owns 116 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 64 shares in the last quarter. Ameritas Investment Company LLC bought a new stake in shares of The Scotts Miracle-Gro during the 1st quarter worth $35,000. Paragon Wealth Strategies LLC bought a new stake in shares of The Scotts Miracle-Gro during the 2nd quarter worth $27,000. Berman Capital Advisors LLC boosted its stake in shares of The Scotts Miracle-Gro by 124.7% during the 2nd quarter. Berman Capital Advisors LLC now owns 164 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 91 shares in the last quarter. Finally, NEXT Financial Group Inc boosted its stake in shares of The Scotts Miracle-Gro by 123.0% during the 2nd quarter. NEXT Financial Group Inc now owns 252 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 139 shares in the last quarter. 62.24% of the stock is owned by institutional investors and hedge funds.

NYSE SMG opened at $146.68 on Thursday. The Scotts Miracle-Gro Company has a fifty-two week low of $139.20 and a fifty-two week high of $254.34. The stock’s 50-day moving average is $152.75 and its two-hundred day moving average is $190.69. The company has a debt-to-equity ratio of 1.90, a current ratio of 2.15 and a quick ratio of 1.22. The firm has a market cap of $8.18 billion, a P/E ratio of 14.86 and a beta of 1.13.

The Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, August 4th. The basic materials company reported $3.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.52 by $0.46. The Scotts Miracle-Gro had a return on equity of 66.94% and a net margin of 11.11%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $3.80 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts expect that The Scotts Miracle-Gro Company will post 9.21 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 27th were issued a dividend of $0.66 per share. This is a positive change from The Scotts Miracle-Gro’s previous quarterly dividend of $0.62. This represents a $2.64 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Thursday, August 26th. The Scotts Miracle-Gro’s dividend payout ratio (DPR) is 36.46%.

A number of research firms have recently issued reports on SMG. JPMorgan Chase & Co. reduced their target price on The Scotts Miracle-Gro from $240.00 to $198.00 and set a “neutral” rating for the company in a report on Thursday, June 24th. Berenberg Bank restated a “buy” rating and issued a $257.00 target price on shares of The Scotts Miracle-Gro in a report on Wednesday, September 1st. Raymond James reduced their target price on The Scotts Miracle-Gro from $230.00 to $200.00 and set a “strong-buy” rating for the company in a report on Wednesday, September 15th. Stifel Nicolaus assumed coverage on The Scotts Miracle-Gro in a report on Tuesday, July 27th. They set a “buy” rating and a $220.00 price objective for the company. Finally, Truist cut their price objective on The Scotts Miracle-Gro from $250.00 to $225.00 and set a “buy” rating for the company in a report on Tuesday, September 28th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $222.00.

About The Scotts Miracle-Gro

Scotts Miracle-Gro Co engages in the manufacture, marketing, and distribution of systems and accessories for hydroponic gardening. It operates through the following segments: U.S. Consumer, Hawthorne, and Other. The U.S. Consumer segment consists of consumer lawn and garden business. The Hawthorn segment includes indoor, urban, and hydroponic gardening business.

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

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