California Public Employees Retirement System Cuts Stake in The Scotts Miracle-Gro Company (NYSE:SMG)

California Public Employees Retirement System cut its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) by 15.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,590 shares of the basic materials company’s stock after selling 12,103 shares during the quarter. California Public Employees Retirement System’s holdings in Scotts Miracle-Gro were worth $5,418,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Scotts Miracle-Gro by 6.5% in the second quarter. Principal Financial Group Inc. now owns 188,259 shares of the basic materials company’s stock worth $14,871,000 after buying an additional 11,534 shares during the period. Swiss National Bank lifted its position in Scotts Miracle-Gro by 0.4% in the second quarter. Swiss National Bank now owns 98,200 shares of the basic materials company’s stock valued at $7,757,000 after purchasing an additional 400 shares during the last quarter. RWC Asset Management LLP boosted its stake in shares of Scotts Miracle-Gro by 9.9% during the second quarter. RWC Asset Management LLP now owns 116,156 shares of the basic materials company’s stock valued at $9,175,000 after purchasing an additional 10,496 shares during the period. Duality Advisers LP bought a new position in shares of Scotts Miracle-Gro in the second quarter worth approximately $1,402,000. Finally, Moors & Cabot Inc. raised its holdings in Scotts Miracle-Gro by 18.2% during the 2nd quarter. Moors & Cabot Inc. now owns 19,032 shares of the basic materials company’s stock valued at $1,503,000 after buying an additional 2,928 shares during the last quarter. 66.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 77,691 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $57.59, for a total transaction of $4,474,224.69. Following the completion of the transaction, the director now owns 14,472,222 shares of the company’s stock, valued at $833,455,264.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 77,691 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $57.59, for a total value of $4,474,224.69. Following the sale, the director now directly owns 14,472,222 shares of the company’s stock, valued at $833,455,264.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter E. Shumlin sold 750 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $56.94, for a total value of $42,705.00. Following the transaction, the director now owns 11,385 shares of the company’s stock, valued at $648,261.90. The disclosure for this sale can be found here. 27.31% of the stock is currently owned by insiders.

Scotts Miracle-Gro Price Performance

Shares of SMG stock opened at $56.38 on Friday. The company has a quick ratio of 0.66, a current ratio of 2.06 and a debt-to-equity ratio of 19.13. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of -7.10 and a beta of 1.43. The business’s fifty day moving average is $49.71 and its 200 day moving average is $70.60. The Scotts Miracle-Gro Company has a twelve month low of $39.06 and a twelve month high of $167.09.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Monday, November 28th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, November 25th. This represents a $2.64 dividend on an annualized basis and a yield of 4.68%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -33.25%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays raised shares of Scotts Miracle-Gro from an “equal weight” rating to an “overweight” rating and set a $75.00 price target on the stock in a report on Tuesday, November 8th. StockNews.com started coverage on Scotts Miracle-Gro in a report on Wednesday, October 12th. They set a “sell” rating on the stock. Raymond James dropped their price objective on Scotts Miracle-Gro from $100.00 to $56.00 and set a “strong-buy” rating for the company in a report on Thursday, November 3rd. Stifel Nicolaus decreased their target price on Scotts Miracle-Gro from $75.00 to $48.00 in a report on Thursday, October 27th. Finally, Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $75.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Scotts Miracle-Gro has a consensus rating of “Hold” and an average target price of $58.57.

Scotts Miracle-Gro Company 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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