Scotts Miracle-Gro Co (NYSE:SMG) Shares Sold by Earnest Partners LLC
Earnest Partners LLC lowered its holdings in Scotts Miracle-Gro Co (NYSE:SMG) by 4.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,219,760 shares of the basic materials company’s stock after selling 55,893 shares during the quarter. Scotts Miracle-Gro accounts for about 1.1% of Earnest Partners LLC’s holdings, making the stock its 19th biggest position. Earnest Partners LLC owned about 2.20% of Scotts Miracle-Gro worth $120,146,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. NEXT Financial Group Inc lifted its holdings in Scotts Miracle-Gro by 806.7% in the second quarter. NEXT Financial Group Inc now owns 272 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 242 shares during the period. Front Row Advisors LLC acquired a new stake in Scotts Miracle-Gro in the first quarter valued at $25,000. Capital Investment Advisory Services LLC lifted its holdings in Scotts Miracle-Gro by 112.3% in the second quarter. Capital Investment Advisory Services LLC now owns 467 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 247 shares during the period. Zions Bancorporation N.A. acquired a new stake in Scotts Miracle-Gro in the first quarter valued at $49,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Scotts Miracle-Gro by 45.9% in the first 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 period. 66.35% of the stock is owned by institutional investors.
Several research firms have recently issued reports on SMG. ValuEngine downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America set a $96.00 price target on Scotts Miracle-Gro and gave the stock a “sell” rating in a research note on Wednesday, July 31st. Finally, SunTrust Banks lifted their price target on Scotts Miracle-Gro to $120.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $87.42.
Scotts Miracle-Gro stock opened at $101.67 on Friday. The stock has a market cap of $5.63 billion, a PE ratio of 27.40, a P/E/G ratio of 2.14 and a beta of 0.83. The stock has a 50-day moving average price of $107.62 and a 200 day moving average price of $93.45. Scotts Miracle-Gro Co has a 52 week low of $57.96 and a 52 week high of $114.63. The company has a current ratio of 1.45, a quick ratio of 0.90 and a debt-to-equity ratio of 1.94.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $3.11 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.37. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Scotts Miracle-Gro had a return on equity of 51.15% and a net margin of 12.02%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.67 EPS. On average, equities analysts predict that Scotts Miracle-Gro Co will post 4.5 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 27th were issued a $0.58 dividend. This is a boost from Scotts Miracle-Gro’s previous quarterly dividend of $0.55. The ex-dividend date was Monday, August 26th. This represents a $2.32 annualized dividend and a yield of 2.28%. Scotts Miracle-Gro’s payout ratio is 62.53%.
About Scotts Miracle-Gro
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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