Oppenheimer & Co. Inc. Sells 1,264 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Oppenheimer & Co. Inc. lessened its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) by 31.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,717 shares of the basic materials company’s stock after selling 1,264 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Scotts Miracle-Gro were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. M&T Bank Corp increased its stake in Scotts Miracle-Gro by 4.1% during the 1st quarter. M&T Bank Corp now owns 2,587 shares of the basic materials company’s stock valued at $317,000 after purchasing an additional 102 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Scotts Miracle-Gro by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 11,297 shares of the basic materials company’s stock worth $892,000 after acquiring an additional 115 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Scotts Miracle-Gro by 1.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,485 shares of the basic materials company’s stock worth $512,000 after acquiring an additional 122 shares in the last quarter. Aurora Investment Counsel grew its stake in shares of Scotts Miracle-Gro by 1.0% in the 1st quarter. Aurora Investment Counsel now owns 14,310 shares of the basic materials company’s stock worth $1,760,000 after acquiring an additional 139 shares in the last quarter. Finally, Byrne Asset Management LLC grew its stake in shares of Scotts Miracle-Gro by 78.3% in the 2nd quarter. Byrne Asset Management LLC now owns 353 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 155 shares in the last quarter. Institutional investors own 66.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SMG. StockNews.com began coverage on shares of Scotts Miracle-Gro in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. Raymond James reduced their target price on shares of Scotts Miracle-Gro from $100.00 to $56.00 and set a “strong-buy” rating for the company in a research note on Thursday, November 3rd. Stifel Nicolaus reduced their target price on shares of Scotts Miracle-Gro from $75.00 to $48.00 in a research note on Thursday, October 27th. JPMorgan Chase & Co. reduced their price target on shares of Scotts Miracle-Gro from $80.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, November 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Scotts Miracle-Gro from $75.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $58.57.

Scotts Miracle-Gro Price Performance

SMG opened at $56.55 on Friday. The firm has a market cap of $3.13 billion, a P/E ratio of -7.12 and a beta of 1.43. The Scotts Miracle-Gro Company has a fifty-two week low of $39.06 and a fifty-two week high of $169.23. The company has a debt-to-equity ratio of 19.13, a quick ratio of 0.66 and a current ratio of 2.06. The firm has a 50-day moving average of $49.69 and a 200 day moving average of $71.82.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Monday, November 28th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Friday, November 25th. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -33.25%.

Scotts Miracle-Gro Profile

(Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

Further Reading

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

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