Oxford Asset Management LLP cut its stake in shares of Scotts Miracle-Gro Co (NYSE:SMG) by 81.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,458 shares of the basic materials company’s stock after selling 28,396 shares during the quarter. Oxford Asset Management LLP’s holdings in Scotts Miracle-Gro were worth $686,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of SMG. Voya Investment Management LLC grew its stake in shares of Scotts Miracle-Gro by 64.9% during the 3rd quarter. Voya Investment Management LLC now owns 18,034 shares of the basic materials company’s stock worth $1,836,000 after purchasing an additional 7,098 shares during the period. SWS Partners purchased a new stake in shares of Scotts Miracle-Gro in the 3rd quarter worth about $409,000. Neo Ivy Capital Management purchased a new stake in shares of Scotts Miracle-Gro in the 3rd quarter worth about $702,000. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of Scotts Miracle-Gro in the 3rd quarter worth about $454,000. Finally, Stifel Financial Corp boosted its position in shares of Scotts Miracle-Gro by 4.6% in the 3rd quarter. Stifel Financial Corp now owns 151,267 shares of the basic materials company’s stock worth $15,403,000 after buying an additional 6,600 shares in the last quarter. 66.62% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the stock. ValuEngine upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Berenberg Bank assumed coverage on shares of Scotts Miracle-Gro in a research report on Wednesday, January 15th. They issued a “hold” rating and a $99.00 price objective on the stock. Raymond James upgraded shares of Scotts Miracle-Gro from a “market perform” rating to a “strong-buy” rating and set a $114.00 price objective on the stock in a research report on Monday, March 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Scotts Miracle-Gro from $103.00 to $115.00 and gave the stock a “neutral” rating in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $112.17.
Scotts Miracle-Gro (NYSE:SMG) last released its earnings results on Wednesday, January 29th. The basic materials company reported ($1.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.24) by $0.12. The company had revenue of $365.80 million for the quarter, compared to analyst estimates of $345.32 million. Scotts Miracle-Gro had a net margin of 14.54% and a return on equity of 38.31%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.39) EPS. As a group, analysts expect that Scotts Miracle-Gro Co will post 5.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 25th were issued a $0.58 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $2.32 dividend on an annualized basis and a yield of 2.25%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 51.90%.
In other Scotts Miracle-Gro news, Director Adam Hanft sold 5,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $115.00, for a total value of $575,000.00. Following the transaction, the director now directly owns 28,403 shares in the company, valued at approximately $3,266,345. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 28.20% of the stock is currently owned by corporate insiders.
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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