Principal Financial Group Inc. grew its holdings in shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) by 3.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 189,359 shares of the basic materials company’s stock after purchasing an additional 6,743 shares during the period. Principal Financial Group Inc. owned approximately 0.32% of Scotts Miracle-Gro Company (The) worth $16,940,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Evergreen Capital Management LLC purchased a new position in shares of Scotts Miracle-Gro Company (The) during the second quarter valued at approximately $461,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Scotts Miracle-Gro Company (The) by 2.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 9,636 shares of the basic materials company’s stock valued at $862,000 after purchasing an additional 257 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Scotts Miracle-Gro Company (The) by 7.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock valued at $149,000 after purchasing an additional 116 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Scotts Miracle-Gro Company (The) by 3.2% during the second quarter. Neuberger Berman Group LLC now owns 701,177 shares of the basic materials company’s stock valued at $62,727,000 after purchasing an additional 21,497 shares during the last quarter. Finally, Cadence Capital Management LLC lifted its holdings in shares of Scotts Miracle-Gro Company (The) by 5.9% during the second quarter. Cadence Capital Management LLC now owns 5,511 shares of the basic materials company’s stock valued at $493,000 after purchasing an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 69.04% of the company’s stock.

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Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. BidaskClub upgraded shares of Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Finally, KeyCorp reiterated a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a report on Monday, August 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $101.00.

In other Scotts Miracle-Gro Company (The) news, EVP Denise Stump sold 22,615 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $95.05, for a total value of $2,149,555.75. Following the completion of the sale, the executive vice president now directly owns 19,444 shares in the company, valued at $1,848,152.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Thomas Randal Coleman sold 13,973 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $96.14, for a total transaction of $1,343,364.22. Following the completion of the sale, the chief financial officer now owns 19,959 shares of the company’s stock, valued at $1,918,858.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,859 shares of company stock valued at $24,364,693. 28.16% of the stock is owned by insiders.

Scotts Miracle-Gro Company (SMG) opened at 95.37 on Friday. The company has a 50-day moving average of $95.12 and a 200-day moving average of $92.06. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 25.73 and a beta of 0.39. Scotts Miracle-Gro Company has a one year low of $79.65 and a one year high of $99.91.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.51 by $0.12. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. Scotts Miracle-Gro Company (The) had a net margin of 7.85% and a return on equity of 36.28%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the firm earned $2.16 earnings per share. On average, equities analysts forecast that Scotts Miracle-Gro Company will post $4.09 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Friday, August 25th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.22%. This is an increase from Scotts Miracle-Gro Company (The)’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, August 23rd. Scotts Miracle-Gro Company (The)’s dividend payout ratio (DPR) is 55.64%.

About Scotts Miracle-Gro Company (The)

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

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