The Scotts Miracle-Gro Company $SMG Holdings Lifted by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 42.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,285 shares of the basic materials company’s stock after acquiring an additional 11,421 shares during the period. Bleakley Financial Group LLC owned approximately 0.07% of Scotts Miracle-Gro worth $2,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Key Capital Management INC acquired a new stake in Scotts Miracle-Gro in the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Scotts Miracle-Gro in the 3rd quarter worth approximately $32,000. SBI Securities Co. Ltd. raised its holdings in shares of 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 worth $52,000 after purchasing an additional 499 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth approximately $53,000. Finally, Hantz Financial Services Inc. lifted its stake in Scotts Miracle-Gro by 64.9% during the fourth quarter. Hantz Financial Services Inc. now owns 963 shares of the basic materials company’s stock valued at $56,000 after purchasing an additional 379 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Trading Up 7.7%

Shares of SMG stock opened at $73.25 on Friday. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 40.92 and a beta of 1.81. The Scotts Miracle-Gro Company has a 1-year low of $52.00 and a 1-year high of $75.30. The stock’s fifty day simple moving average is $62.52 and its 200-day simple moving average is $63.54.

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

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 22nd were issued a $0.66 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.6%. Scotts Miracle-Gro’s dividend payout ratio is currently 147.49%.

Analyst Upgrades and Downgrades

SMG has been the subject of a number of research reports. JPMorgan Chase & Co. cut shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $70.00 to $67.00 in a report on Thursday, March 26th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 price target on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. UBS Group increased their price objective on Scotts Miracle-Gro from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday. Weiss Ratings reissued a “hold (c)” rating on shares of Scotts Miracle-Gro in a research note on Monday, May 4th. Finally, Wells Fargo & Company lifted their target price on Scotts Miracle-Gro from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.00.

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.