Massachusetts Financial Services Co. MA reduced its holdings in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 12.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 204,521 shares of the basic materials company’s stock after selling 28,271 shares during the period. Massachusetts Financial Services Co. MA owned about 0.37% of Scotts Miracle-Gro worth $17,008,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SMG. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Scotts Miracle-Gro by 42.0% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,498,720 shares of the basic materials company’s stock valued at $128,516,000 after acquiring an additional 442,933 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Scotts Miracle-Gro by 14.4% during the 2nd quarter. Fisher Asset Management LLC now owns 1,506,427 shares of the basic materials company’s stock valued at $125,274,000 after acquiring an additional 189,193 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Scotts Miracle-Gro by 256.4% during the 1st quarter. Royal Bank of Canada now owns 202,339 shares of the basic materials company’s stock valued at $17,352,000 after acquiring an additional 145,572 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Scotts Miracle-Gro by 15.4% during the 1st quarter. Handelsbanken Fonder AB now owns 600,000 shares of the basic materials company’s stock valued at $51,450,000 after acquiring an additional 80,000 shares in the last quarter. Finally, Broadview Advisors LLC acquired a new stake in shares of Scotts Miracle-Gro during the 2nd quarter valued at about $4,910,000. Institutional investors and hedge funds own 65.91% of the company’s stock.

Several analysts have recently weighed in on the stock. SunTrust Banks decreased their target price on shares of Scotts Miracle-Gro to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, April 18th. JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $95.00 to $85.00 in a research report on Friday, June 1st. Zacks Investment Research lowered shares of Scotts Miracle-Gro from a “buy” rating to a “sell” rating in a research report on Tuesday, April 17th. Bank of America reiterated a “sell” rating and set a $80.00 target price on shares of Scotts Miracle-Gro in a research report on Wednesday, June 13th. Finally, ValuEngine lowered shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Five investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. Scotts Miracle-Gro currently has a consensus rating of “Sell” and a consensus price target of $88.75.

In other Scotts Miracle-Gro news, Director Katherine Littlefield Hagedorn sold 40,329 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $77.76, for a total value of $3,135,983.04. Following the transaction, the director now directly owns 6,511 shares in the company, valued at $506,295.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 16,603 shares of the business’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $86.04, for a total transaction of $1,428,522.12. Following the completion of the transaction, the insider now owns 15,673,272 shares in the company, valued at $1,348,528,322.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 211,952 shares of company stock worth $17,290,014. Company insiders own 29.14% of the company’s stock.

Scotts Miracle-Gro opened at $75.35 on Friday, MarketBeat.com reports. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.94 and a beta of 0.23. Scotts Miracle-Gro Co has a 12 month low of $73.81 and a 12 month high of $110.12. The company has a current ratio of 1.60, a quick ratio of 0.99 and a debt-to-equity ratio of 3.72.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Tuesday, July 31st. The basic materials company reported $2.67 EPS for the quarter, beating the Zacks’ consensus estimate of $2.55 by $0.12. The firm had revenue of $994.60 million for the quarter, compared to analyst estimates of $996.40 million. Scotts Miracle-Gro had a net margin of 6.80% and a return on equity of 43.37%. During the same period in the previous year, the business earned $2.57 earnings per share. research analysts predict that Scotts Miracle-Gro Co will post 3.8 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Monday, August 27th will be given a $0.55 dividend. The ex-dividend date is Friday, August 24th. This is a positive change from Scotts Miracle-Gro’s previous quarterly dividend of $0.53. This represents a $2.20 dividend on an annualized basis and a yield of 2.92%. Scotts Miracle-Gro’s payout ratio is 53.81%.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, including lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

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

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