The Scotts Miracle-Gro Company $SMG Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC increased its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 17.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 88,100 shares of the basic materials company’s stock after buying an additional 13,300 shares during the quarter. Gabelli Funds LLC owned about 0.15% of Scotts Miracle-Gro worth $5,357,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group increased its stake in shares of Scotts Miracle-Gro by 4.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 4,690 shares of the basic materials company’s stock worth $275,000 after acquiring an additional 187 shares during the last quarter. Baader Bank Aktiengesellschaft boosted its position in shares of Scotts Miracle-Gro by 3.9% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 5,193 shares of the basic materials company’s stock valued at $312,000 after acquiring an additional 193 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Scotts Miracle-Gro by 2.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 9,126 shares of the basic materials company’s stock valued at $555,000 after acquiring an additional 200 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Scotts Miracle-Gro by 6.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,077 shares of the basic materials company’s stock valued at $296,000 after purchasing an additional 294 shares during the period. Finally, State of Michigan Retirement System grew its holdings in shares of Scotts Miracle-Gro by 2.9% in the first quarter. State of Michigan Retirement System now owns 10,800 shares of the basic materials company’s stock valued at $657,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Price Performance

Shares of SMG stock opened at $69.89 on Tuesday. The Scotts Miracle-Gro Company has a 1-year low of $52.00 and a 1-year high of $75.34. The firm has a market cap of $4.07 billion, a PE ratio of 39.05 and a beta of 1.81. The company has a 50-day moving average of $63.94 and a two-hundred day moving average of $64.04.

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

Analyst Ratings Changes

SMG has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th. Jefferies Financial Group restated a “buy” rating and set a $79.00 price target on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. UBS Group upped their price objective on Scotts Miracle-Gro from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Wells Fargo & Company increased their price objective on Scotts Miracle-Gro from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus cut their target price on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Scotts Miracle-Gro presently has an average rating of “Hold” and an average price target of $73.00.

Scotts Miracle-Gro Profile

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.