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.

SMG stock opened at $93.81 on Thursday. The stock has a market capitalization of $5.16 billion, a PE ratio of 25.29, a P/E/G ratio of 2.06 and a beta of 0.82. The company has a debt-to-equity ratio of 3.28, a current ratio of 1.59 and a quick ratio of 1.00. Scotts Miracle-Gro Co has a 12 month low of $57.96 and a 12 month high of $94.70.

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%.

COPYRIGHT VIOLATION WARNING: “California State Teachers Retirement System Cuts Stake in Scotts Miracle-Gro Co (NYSE:SMG)” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this news story can be accessed at https://www.thecerbatgem.com/2019/06/13/california-state-teachers-retirement-system-cuts-stake-in-scotts-miracle-gro-co-nysesmg.html.

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.

Featured Article: How Do Investors Open a Backdoor Roth IRA?

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

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.