Massachusetts Financial Services Co. MA Acquires Shares of 17,749 The Scotts Miracle-Gro Company (NYSE:SMG)

Massachusetts Financial Services Co. MA acquired a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMGFree Report) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 17,749 shares of the basic materials company’s stock, valued at approximately $917,000.

A number of other hedge funds have also modified their holdings of the business. Yousif Capital Management LLC boosted its holdings in shares of Scotts Miracle-Gro by 0.8% during the 1st quarter. Yousif Capital Management LLC now owns 21,656 shares of the basic materials company’s stock worth $2,663,000 after buying an additional 170 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Scotts Miracle-Gro by 1.9% during the 1st quarter. Prudential Financial Inc. now owns 9,487 shares of the basic materials company’s stock worth $1,166,000 after buying an additional 173 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Scotts Miracle-Gro by 5.7% during the 2nd quarter. Captrust Financial Advisors now owns 3,314 shares of the basic materials company’s stock worth $262,000 after buying an additional 178 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Scotts Miracle-Gro by 5.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,595 shares of the basic materials company’s stock worth $175,000 after buying an additional 184 shares during the period. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Scotts Miracle-Gro during the 1st quarter worth $27,000. 70.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SMG has been the subject of several research analyst reports. StockNews.com cut shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Friday. Stifel Nicolaus upped their target price on shares of Scotts Miracle-Gro from $49.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro has a consensus rating of “Moderate Buy” and an average target price of $67.86.

View Our Latest Stock Analysis on SMG

Scotts Miracle-Gro Trading Up 3.8 %

Shares of Scotts Miracle-Gro stock opened at $57.88 on Tuesday. The company has a current ratio of 2.20, a quick ratio of 0.67 and a debt-to-equity ratio of 19.50. The company has a 50-day simple moving average of $60.08 and a 200 day simple moving average of $55.20. The Scotts Miracle-Gro Company has a 12-month low of $43.67 and a 12-month high of $88.61.

Scotts Miracle-Gro (NYSE:SMGGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The basic materials company reported ($1.45) EPS for the quarter, topping analysts’ consensus estimates of ($1.62) by $0.17. Scotts Miracle-Gro had a negative net margin of 11.52% and a negative return on equity of 44.37%. The firm had revenue of $410.40 million for the quarter, compared to analyst estimates of $412.83 million. During the same quarter in the prior year, the firm earned ($1.02) EPS. The company’s revenue was down 22.1% on a year-over-year basis. Analysts predict that The Scotts Miracle-Gro Company will post 2.63 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Shareholders of record on Friday, February 23rd will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Thursday, February 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently -37.50%.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, SVP Julie Demuesy sold 2,109 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $56.72, for a total transaction of $119,622.48. Following the sale, the senior vice president now owns 17,245 shares of the company’s stock, valued at approximately $978,136.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Hagedorn Partnership, L.P. sold 46,525 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $61.23, for a total value of $2,848,725.75. Following the transaction, the director now owns 13,923,770 shares of the company’s stock, valued at approximately $852,552,437.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Julie Demuesy sold 2,109 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $56.72, for a total transaction of $119,622.48. Following the completion of the transaction, the senior vice president now directly owns 17,245 shares in the company, valued at approximately $978,136.40. The disclosure for this sale can be found here. Insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Company Profile

(Free Report)

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells 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, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.

See Also

Want to see what other hedge funds are holding SMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Scotts Miracle-Gro Company (NYSE:SMGFree Report).

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

Receive News & Ratings for Scotts Miracle-Gro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scotts Miracle-Gro and related companies with MarketBeat.com's FREE daily email newsletter.