Deprince Race & Zollo Inc. Purchases 51,148 Shares of The Scotts Miracle-Gro Company $SMG

Deprince Race & Zollo Inc. raised its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,087,339 shares of the basic materials company’s stock after buying an additional 51,148 shares during the period. Scotts Miracle-Gro comprises approximately 1.2% of Deprince Race & Zollo Inc.’s investment portfolio, making the stock its 15th biggest position. Deprince Race & Zollo Inc. owned 1.87% of Scotts Miracle-Gro worth $66,121,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Key Capital Management INC bought a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Scotts Miracle-Gro in the 3rd quarter valued at about $32,000. SBI Securities Co. Ltd. boosted its position in Scotts Miracle-Gro by 127.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock valued at $52,000 after buying an additional 499 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Scotts Miracle-Gro in the fourth quarter worth approximately $53,000. Finally, Hantz Financial Services Inc. grew its stake in Scotts Miracle-Gro by 64.9% in the fourth quarter. Hantz Financial Services Inc. now owns 963 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Price Performance

SMG opened at $68.65 on Thursday. The business’s 50-day moving average is $61.84 and its two-hundred day moving average is $62.87. The Scotts Miracle-Gro Company has a 1 year low of $52.00 and a 1 year high of $72.35. The firm has a market capitalization of $3.99 billion, a PE ratio of 38.35 and a beta of 1.81.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $4.53 EPS for the quarter, beating the consensus estimate of $3.97 by $0.56. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm posted $3.98 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that The Scotts Miracle-Gro Company will post 4.3 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, May 22nd. Scotts Miracle-Gro’s payout ratio is 147.49%.

Analysts Set New Price Targets

SMG has been the topic of several research reports. JPMorgan Chase & Co. downgraded Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $70.00 to $67.00 in a report on Thursday, March 26th. Jefferies Financial Group reissued a “buy” rating and set a $79.00 price target on shares of Scotts Miracle-Gro in a research report on Wednesday, April 29th. Wells Fargo & Company cut their target price on shares of Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Stifel Nicolaus reduced their price target on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a report on Monday, June 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.67.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.