The Swiss National Bank increases its equity holdings in The Scotts Miracle-Gro Company (NYSE:SMG)


The Swiss National Bank raised its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG – Get Rating) by 6.2% in the 1st quarter, according to the company in its latest communication to the Securities & Exchange Commission. The company held 97,800 shares of the basic materials company after buying an additional 5,700 shares during the period. The Swiss National Bank held approximately 0.18% of Scotts Miracle-Gro worth $12,025,000 when it last filed with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also changed their holdings in the company. Advisor Group Holdings Inc. increased its stake in shares of Scotts Miracle-Gro by 15.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 48,889 shares of the basic materials company valued at $7,888,000 after acquiring 6,613 additional shares last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Scotts Miracle-Gro by 2.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 27,490 shares of the basic materials company valued at $4,426,000 after acquiring 759 additional shares last quarter. The Toronto Dominion Bank acquired a new equity stake in Scotts Miracle-Gro in the fourth quarter valued at $128,000. Mercer Global Advisors Inc. ADV acquired a new equity stake in Scotts Miracle-Gro in the fourth quarter valued at $358,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Scotts Miracle-Gro by 4.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 244,997 shares of the basic materials company valued at $39,444,000 after acquiring 10,219 additional shares last quarter. 62.23% of the shares are currently held by hedge funds and other institutional investors.

Scotts Miracle-Gro stock down 2.9%

SMG opened at $82.11 on Thursday. The company’s 50-day simple moving average is $82.39 and its 200-day simple moving average is $105.36. The company has a debt ratio of 7.55, a quick ratio of 1.10 and a current ratio of 2.42. The Scotts Miracle-Gro Company has a one-year low of $72.58 and a one-year high of $180.43. The stock has a market capitalization of $4.55 billion, a P/E ratio of -17.00 and a beta of 1.24.

Scotts Miracle-Gro (NYSE:SMG – Get Rating) last reported results on Wednesday, August 3. The basic materials company reported EPS of $1.98 for the quarter, beating analyst consensus estimates of $1.70 by $0.28. Scotts Miracle-Gro posted a positive return on equity of 36.80% and a negative net margin of 6.36%. The company posted revenue of $1.19 billion for the quarter, versus $1.23 billion for analysts. In the same quarter of the previous year, the company had earned earnings per share of $3.98. The company’s revenues were down 26.3% from the same quarter last year. Analysts expect The Scotts Miracle-Gro Company to post EPS of 4.12 for the current year.

Scotts Miracle-Gro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 9. Investors of record on Friday August 26 will receive a dividend of $0.66 per share. This represents a dividend of $2.64 on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Thursday, August 25. Scotts Miracle-Gro’s dividend payout ratio is currently -54.66%.

Wall Street analysts predict growth

SMG has been the subject of several analyst reports. TheStreet upgraded Scotts Miracle-Gro from a “c” rating to a “d+” rating in a Wednesday, August 3 research note. JPMorgan Chase & Co. downgraded Scotts Miracle-Gro from an ‘overweight’ rating to a ‘neutral’ rating and lowered its price target for the company from $130.00 to $95.00 in a research note Thursday, June 9. Wells Fargo & Company downgraded Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and reduced its price target for the company from $115.00 to $85.00 in a research note Wednesday, June 22. Truist Financial downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating and reduced its price target for the company from $185.00 to $85.00 in a Wednesday 8 research note. June. Finally, StockNews.com upgraded Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a Saturday, May 21 research note. One analyst has assigned the stock a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned the stock a strong buy rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $113.88.

About Scotts Miracle-Gro

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The Scotts Miracle-Gro Company is engaged in the manufacture, marketing and sale of products for the care of lawns, gardens and indoor and hydroponic gardening in the United States and around the world. The Company operates through three segments: American Consumer, Hawthorne and Others. It provides lawn care products including lawn fertilizers, grass seed products, spreaders, other durable products and outdoor cleaners, as well as weed, pest and weed control products. lawn-related diseases; gardening and landscaping products include water-soluble and time-release plant foods, potting mixes and garden soils, mulch and decorative ground cover products, weed control products plant pests and diseases, organic garden products, living goods and seeding solutions.

Further reading

Want to see which other hedge funds hold SMG? Visit HoldingsChannel.com for the latest 13F filings and insider trading for The Scotts Miracle-Gro Company (NYSE:SMG – Get Rating).

Institutional ownership by quarter for Scotts Miracle-Gro (NYSE: SMG)



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