California State Teachers Retirement System Cuts Stake in Scotts Miracle-Gro Co (NYSE:SMG)
California State Teachers Retirement System lessened its holdings in Scotts Miracle-Gro Co (NYSE:SMG) by 1.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,599 shares of the basic materials company’s stock after selling 621 shares during the quarter. California State Teachers Retirement System’s holdings in Scotts Miracle-Gro were worth $4,998,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in SMG. Enlightenment Research LLC acquired a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at $25,000. Toronto Dominion Bank acquired a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at $27,000. Rehmann Capital Advisory Group increased its holdings in shares of Scotts Miracle-Gro by 35.8% in the fourth quarter. Rehmann Capital Advisory Group now owns 618 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 163 shares during the last quarter. Shine Investment Advisory Services Inc. increased its holdings in shares of Scotts Miracle-Gro by 106.5% in the first quarter. Shine Investment Advisory Services Inc. now owns 510 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 263 shares during the last quarter. Finally, Bedel Financial Consulting Inc. increased its holdings in shares of Scotts Miracle-Gro by 58.5% in the first quarter. Bedel Financial Consulting Inc. now owns 515 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 190 shares during the last quarter. 66.13% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. ValuEngine upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. TheStreet upgraded shares of Scotts Miracle-Gro from a “c” rating to a “b” rating in a report on Wednesday, May 1st. Bank of America downgraded shares of Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and upped their price target for the company from $81.00 to $83.00 in a research note on Thursday, May 2nd. Finally, Raymond James cut shares of Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 price objective for the company. in a research report on Wednesday, March 27th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $76.03.
Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $3.64 EPS for the quarter, topping analysts’ consensus estimates of $3.42 by $0.22. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Scotts Miracle-Gro had a net margin of 8.67% and a return on equity of 53.15%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.88 earnings per share. As a group, analysts anticipate that Scotts Miracle-Gro Co will post 4.32 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.35%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 59.30%.
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Scotts Miracle-Gro Company Profile
The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as 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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