The Scotts Miracle-Gro Company (NYSE:SMG) Holdings Trimmed by Leeward Investments LLC MA

Leeward Investments LLC MA cut its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 4.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,846 shares of the basic materials company’s stock after selling 2,651 shares during the period. Leeward Investments LLC MA owned approximately 0.10% of Scotts Miracle-Gro worth $3,829,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in Scotts Miracle-Gro by 72.6% during the 1st quarter. BNP Paribas Financial Markets now owns 42,928 shares of the basic materials company’s stock worth $3,202,000 after buying an additional 18,060 shares during the period. Nordea Investment Management AB lifted its position in shares of Scotts Miracle-Gro by 18.4% in the 1st quarter. Nordea Investment Management AB now owns 230,616 shares of the basic materials company’s stock valued at $17,218,000 after acquiring an additional 35,825 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at approximately $12,482,000. Ontario Teachers Pension Plan Board boosted its stake in Scotts Miracle-Gro by 155.1% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 37,172 shares of the basic materials company’s stock worth $2,773,000 after purchasing an additional 22,599 shares during the period. Finally, Carmignac Gestion purchased a new position in Scotts Miracle-Gro during the 4th quarter worth approximately $3,411,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 960 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $77.95, for a total transaction of $74,832.00. Following the completion of the sale, the director now owns 22,940 shares of the company’s stock, valued at $1,788,173. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 26.46% of the company’s stock.

Analyst Upgrades and Downgrades

SMG has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their price objective on Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $76.00.

Scotts Miracle-Gro Stock Performance

Shares of Scotts Miracle-Gro stock traded down $0.46 during trading on Monday, hitting $71.82. 23,041 shares of the stock traded hands, compared to its average volume of 838,101. The stock has a market cap of $4.08 billion, a P/E ratio of -11.58 and a beta of 1.76. The company has a fifty day moving average price of $67.37 and a two-hundred day moving average price of $66.78. The Scotts Miracle-Gro Company has a twelve month low of $43.67 and a twelve month high of $82.11.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.42. Scotts Miracle-Gro had a negative net margin of 7.38% and a negative return on equity of 41.19%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the company earned $1.17 earnings per share. The company’s revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts expect that The Scotts Miracle-Gro Company will post 2.61 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.66 per share. The ex-dividend date is Friday, August 23rd. This represents a $2.64 annualized dividend and a yield of 3.68%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -42.31%.

About Scotts Miracle-Gro

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.