Schulhoff & Co. Inc. raised its stake in shares of Scotts Miracle-Gro Co. (NYSE:SMG) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 51,940 shares of the company’s stock after buying an additional 173 shares during the period. Scotts Miracle-Gro makes up approximately 2.3% of Schulhoff & Co. Inc.’s holdings, making the stock its 13th largest position. Schulhoff & Co. Inc.’s holdings in Scotts Miracle-Gro were worth $3,631,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in SMG. American Century Companies Inc. increased its position in Scotts Miracle-Gro by 77.6% in the second quarter. American Century Companies Inc. now owns 591,762 shares of the company’s stock valued at $41,370,000 after buying an additional 258,645 shares during the period. Nicholas Investment Partners LP acquired a new position in Scotts Miracle-Gro during the first quarter valued at approximately $6,455,000. Credit Agricole S A increased its position in Scotts Miracle-Gro by 650.5% in the first quarter. Credit Agricole S A now owns 95,400 shares of the company’s stock valued at $6,942,000 after buying an additional 82,688 shares during the period. Calamos Advisors LLC increased its position in Scotts Miracle-Gro by 20.3% in the second quarter. Calamos Advisors LLC now owns 413,443 shares of the company’s stock valued at $28,904,000 after buying an additional 69,687 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Scotts Miracle-Gro by 81.3% in the second quarter. Handelsbanken Fonder AB now owns 145,000 shares of the company’s stock valued at $10,137,000 after buying an additional 65,000 shares during the period. Institutional investors and hedge funds own 69.97% of the company’s stock.
Shares of Scotts Miracle-Gro Co. (NYSE:SMG) traded up 0.70% during midday trading on Tuesday, reaching $86.64. 413,284 shares of the company’s stock were exchanged. The company has a market cap of $5.25 billion, a P/E ratio of 16.94 and a beta of 0.70. Scotts Miracle-Gro Co. has a 12 month low of $62.20 and a 12 month high of $87.00. The firm has a 50 day moving average price of $82.47 and a 200 day moving average price of $74.97.
Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.12 by $0.04. The firm had revenue of $994.10 million for the quarter, compared to the consensus estimate of $1.05 billion. Scotts Miracle-Gro had a net margin of 10.72% and a return on equity of 36.35%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.68 EPS. Equities research analysts forecast that Scotts Miracle-Gro Co. will post $3.79 earnings per share for the current fiscal year.
SMG has been the topic of several research reports. Zacks Investment Research downgraded shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Friday, July 15th. JPMorgan Chase & Co. upgraded shares of Scotts Miracle-Gro from a “neutral” rating to an “overweight” rating and upped their price target for the company from $70.00 to $85.00 in a research note on Thursday, August 4th. Finally, Tigress Financial restated a “buy” rating on shares of Scotts Miracle-Gro in a research note on Monday, August 29th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Scotts Miracle-Gro presently has an average rating of “Buy” and an average target price of $83.33.
In other Scotts Miracle-Gro news, insider Michael C. Lukemire sold 38,924 shares of Scotts Miracle-Gro stock in a transaction on Friday, August 5th. The shares were sold at an average price of $79.65, for a total transaction of $3,100,296.60. Following the transaction, the insider now directly owns 34,256 shares of the company’s stock, valued at approximately $2,728,490.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas Randal Coleman sold 789 shares of Scotts Miracle-Gro stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $82.65, for a total transaction of $65,210.85. Following the transaction, the chief financial officer now directly owns 5,112 shares in the company, valued at $422,506.80. The disclosure for this sale can be found here. Company insiders own 27.28% of the company’s stock.
About Scotts Miracle-Gro
The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.
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