Scotts Miracle-Gro Co (SMG) Shares Sold by Mirae Asset Global Investments Co. Ltd.
Mirae Asset Global Investments Co. Ltd. trimmed its holdings in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,712 shares of the basic materials company’s stock after selling 576 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Scotts Miracle-Gro were worth $474,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in SMG. Renaissance Technologies LLC bought a new stake in shares of Scotts Miracle-Gro during the third quarter worth $36,767,000. Deutsche Bank AG lifted its position in shares of Scotts Miracle-Gro by 446.9% during the third quarter. Deutsche Bank AG now owns 382,827 shares of the basic materials company’s stock worth $30,136,000 after purchasing an additional 312,828 shares during the last quarter. ETF Managers Group LLC bought a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth $10,158,000. Wells Fargo & Company MN lifted its position in shares of Scotts Miracle-Gro by 25.3% during the third quarter. Wells Fargo & Company MN now owns 663,861 shares of the basic materials company’s stock worth $52,266,000 after purchasing an additional 133,968 shares during the last quarter. Finally, Deprince Race & Zollo Inc. lifted its position in shares of Scotts Miracle-Gro by 49.5% during the fourth quarter. Deprince Race & Zollo Inc. now owns 348,874 shares of the basic materials company’s stock worth $21,442,000 after purchasing an additional 115,453 shares during the last quarter. Institutional investors and hedge funds own 63.99% of the company’s stock.
In other news, Director Katherine Littlefield Hagedorn sold 2,665 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $74.07, for a total transaction of $197,396.55. Following the transaction, the director now owns 4,035 shares in the company, valued at $298,872.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 50,000 shares of the firm’s stock in a transaction on Monday, January 14th. The shares were sold at an average price of $68.27, for a total value of $3,413,500.00. Following the transaction, the insider now owns 15,602,150 shares in the company, valued at approximately $1,065,158,780.50. The disclosure for this sale can be found here. Company insiders own 30.37% of the company’s stock.
Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, January 30th. The basic materials company reported ($1.39) EPS for the quarter, missing the consensus estimate of ($1.24) by ($0.15). The firm had revenue of $298.10 million for the quarter, compared to analysts’ expectations of $287.24 million. Scotts Miracle-Gro had a net margin of 0.19% and a return on equity of 47.98%. The business’s quarterly revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.08) EPS. Sell-side analysts predict that Scotts Miracle-Gro Co will post 4.19 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 22nd were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $2.20 annualized dividend and a dividend yield of 2.71%. Scotts Miracle-Gro’s dividend payout ratio is currently 59.30%.
Several research firms have recently weighed in on SMG. JPMorgan Chase & Co. upgraded Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 target price for the company in a research report on Thursday, January 31st. Zacks Investment Research upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Tuesday, January 8th. Finally, Raymond James upgraded Scotts Miracle-Gro from a “market perform” rating to an “outperform” rating and set a $71.00 target price for the company in a research report on Monday, December 17th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $76.40.
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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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