State of New Jersey Common Pension Fund D Has $1.38 Million Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

State of New Jersey Common Pension Fund D boosted its stake in The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) by 24.6% during the third quarter, Holdings Channel reports. The institutional investor owned 32,351 shares of the basic materials company’s stock after buying an additional 6,383 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Scotts Miracle-Gro were worth $1,383,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of SMG. Price T Rowe Associates Inc. MD grew its stake in Scotts Miracle-Gro by 26.5% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,661,229 shares of the basic materials company’s stock valued at $131,220,000 after buying an additional 347,852 shares during the last quarter. Raymond James & Associates grew its stake in Scotts Miracle-Gro by 81.5% in the 3rd quarter. Raymond James & Associates now owns 506,588 shares of the basic materials company’s stock valued at $21,656,000 after buying an additional 227,400 shares during the last quarter. Olstein Capital Management L.P. grew its position in shares of Scotts Miracle-Gro by 374.6% during the 3rd quarter. Olstein Capital Management L.P. now owns 280,000 shares of the basic materials company’s stock worth $10,438,000 after purchasing an additional 221,000 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth approximately $16,093,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth approximately $13,353,000. Institutional investors and hedge funds own 68.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMG. JPMorgan Chase & Co. decreased their target price on shares of Scotts Miracle-Gro from $80.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. Raymond James decreased their target price on shares of Scotts Miracle-Gro from $100.00 to $56.00 and set a “strong-buy” rating on the stock in a research report on Thursday, November 3rd. Barclays upgraded 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 research report on Tuesday, November 8th. StockNews.com started coverage on shares of Scotts Miracle-Gro in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. 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 on the stock in a research report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $58.57.

Insider Activity at Scotts Miracle-Gro

In related news, CEO James Hagedorn sold 50,000 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $60.77, for a total value of $3,038,500.00. Following the completion of the transaction, the chief executive officer now owns 212,402 shares of the company’s stock, valued at approximately $12,907,669.54. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Hagedorn Partnership, L.P. sold 65,742 shares of the firm’s stock in a transaction on Monday, November 28th. The shares were sold at an average price of $53.69, for a total transaction of $3,529,687.98. Following the completion of the transaction, the director now owns 14,206,481 shares of the company’s stock, valued at $762,745,964.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Hagedorn sold 50,000 shares of the firm’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the transaction, the chief executive officer now directly owns 212,402 shares of the company’s stock, valued at approximately $12,907,669.54. The disclosure for this sale can be found here. Insiders sold a total of 195,842 shares of company stock valued at $11,174,189 in the last quarter. Insiders own 27.28% of the company’s stock.

Scotts Miracle-Gro Price Performance

Shares of NYSE:SMG opened at $62.34 on Friday. The company has a market cap of $3.46 billion, a price-to-earnings ratio of -7.85 and a beta of 1.49. The company has a debt-to-equity ratio of 19.13, a current ratio of 2.06 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $54.23 and a 200 day simple moving average of $60.25. The Scotts Miracle-Gro Company has a one year low of $39.06 and a one year high of $156.00.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The basic materials company reported ($2.04) EPS for the quarter, missing the consensus estimate of ($2.02) by ($0.02). The company had revenue of $493.60 million during the quarter, compared to the consensus estimate of $527.42 million. Scotts Miracle-Gro had a negative net margin of 11.15% and a positive return on equity of 38.78%. Research analysts predict that The Scotts Miracle-Gro Company will post 3.61 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Monday, November 28th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Friday, November 25th. Scotts Miracle-Gro’s payout ratio is -33.25%.

Scotts Miracle-Gro Company Profile

(Get Rating)

The Scotts Miracle-Gro Company is involved in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company 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 comprising 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 live goods and seeding solutions.

Further Reading

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

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