Synovus Financial Corp decreased its position in Scotts Miracle-Gro Co (NYSE:SMG) by 41.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 581 shares of the basic materials company’s stock after selling 406 shares during the quarter. Synovus Financial Corp’s holdings in Scotts Miracle-Gro were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Huntington National Bank lifted its holdings in shares of Scotts Miracle-Gro by 4.6% in the 1st quarter. Huntington National Bank now owns 2,838 shares of the basic materials company’s stock worth $223,000 after buying an additional 125 shares during the period. Eukles Asset Management raised its position in shares of Scotts Miracle-Gro by 3.9% in the 1st quarter. Eukles Asset Management now owns 3,345 shares of the basic materials company’s stock worth $263,000 after acquiring an additional 125 shares in the last quarter. US Bancorp DE increased its position in Scotts Miracle-Gro by 1.0% during the 1st quarter. US Bancorp DE now owns 13,917 shares of the basic materials company’s stock valued at $1,093,000 after buying an additional 132 shares in the last quarter. LS Investment Advisors LLC increased its position in Scotts Miracle-Gro by 6.8% during the 4th quarter. LS Investment Advisors LLC now owns 2,305 shares of the basic materials company’s stock valued at $142,000 after buying an additional 146 shares in the last quarter. Finally, Rehmann Capital Advisory Group increased its position in Scotts Miracle-Gro by 35.8% during the 4th quarter. Rehmann Capital Advisory Group now owns 618 shares of the basic materials company’s stock valued at $38,000 after buying an additional 163 shares in the last quarter. 66.04% of the stock is currently owned by institutional investors and hedge funds.
SMG stock traded down $1.23 during mid-day trading on Wednesday, reaching $96.78. 233,600 shares of the company’s stock were exchanged, compared to its average volume of 482,450. The firm has a 50 day moving average of $92.08. Scotts Miracle-Gro Co has a 12-month low of $57.96 and a 12-month high of $99.47. The firm has a market capitalization of $5.42 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 2.12 and a beta of 0.82. The company has a current ratio of 1.59, a quick ratio of 1.00 and a debt-to-equity ratio of 3.28.
Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.42 by $0.22. Scotts Miracle-Gro had a return on equity of 53.15% and a net margin of 8.67%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $2.88 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. Analysts predict that Scotts Miracle-Gro Co will post 4.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 28th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 24th. This represents a $2.20 annualized dividend and a dividend yield of 2.27%. Scotts Miracle-Gro’s dividend payout ratio is presently 59.30%.
Several research analysts recently issued reports on SMG shares. TheStreet raised Scotts Miracle-Gro from a “c” rating to a “b” rating in a research report on Wednesday, May 1st. ValuEngine upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Raymond James downgraded Scotts Miracle-Gro from an “outperform” rating to a “market perform” rating and set a $77.10 target price on the stock. in a research note on Wednesday, March 27th. They noted that the move was a valuation call. Finally, Bank of America downgraded Scotts Miracle-Gro from a “neutral” rating to an “underperform” rating and upped their target price for the stock from $81.00 to $83.00 in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $76.03.
Scotts Miracle-Gro 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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