Gamco Investors INC. ET AL Grows Stock Position in The Scotts Miracle-Gro Company $SMG

Key Points

• Gamco Investors increased its stake in Scotts Miracle-Gro by 9.7% in the fourth quarter, bringing its holdings to 387,170 shares valued at about $22.6 million.
• Wall Street sentiment is mixed but constructive: the stock has a Moderate Buy consensus rating, with four analysts rating it Buy, four Hold, and an average price target of $73.50.
• Scotts Miracle-Gro reported better-than-expected quarterly results, with EPS of $4.53 versus $3.97 expected and revenue of $1.46 billion versus $1.41 billion expected; the company also announced a quarterly dividend of $0.66 per share.

Gamco Investors INC. ET AL raised its holdings in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 387,170 shares of the basic materials company's stock after buying an additional 34,350 shares during the quarter. Gamco Investors INC. ET AL owned about 0.67% of Scotts Miracle-Gro worth $22,591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Versor Investments LP acquired a new position in shares of Scotts Miracle-Gro in the third quarter valued at about $1,355,000. JPMorgan Chase & Co. increased its holdings in shares of Scotts Miracle-Gro by 21.4% in the third quarter. JPMorgan Chase & Co. now owns 155,498 shares of the basic materials company's stock valued at $8,856,000 after purchasing an additional 27,422 shares during the period. Elo Mutual Pension Insurance Co increased its holdings in shares of Scotts Miracle-Gro by 101.4% in the third quarter. Elo Mutual Pension Insurance Co now owns 41,408 shares of the basic materials company's stock valued at $2,358,000 after purchasing an additional 20,843 shares during the period. SG Capital Management LLC acquired a new position in shares of Scotts Miracle-Gro in the third quarter valued at about $3,032,000. Finally, Sound Income Strategies LLC increased its holdings in shares of Scotts Miracle-Gro by 46.6% in the fourth quarter. Sound Income Strategies LLC now owns 230,966 shares of the basic materials company's stock valued at $14,692,000 after purchasing an additional 73,455 shares during the period. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SMG shares. JPMorgan Chase & Co. lowered Scotts Miracle-Gro from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $70.00 to $67.00 in a report on Thursday, March 26th. Wall Street Zen raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. UBS Group set a $67.00 price objective on Scotts Miracle-Gro in a report on Thursday, January 29th. Jefferies Financial Group reissued a "buy" rating and issued a $79.00 price objective on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Finally, Wells Fargo & Company cut their price objective on Scotts Miracle-Gro from $75.00 to $72.00 and set an "overweight" rating on the stock in a report on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Scotts Miracle-Gro has a consensus rating of "Moderate Buy" and an average target price of $73.50.

Insider Buying and Selling

In related news, EVP Mark J. Scheiwer bought 693 shares of the company's stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average cost of $71.44 per share, with a total value of $49,507.92. Following the completion of the acquisition, the executive vice president directly owned 15,370 shares in the company, valued at approximately $1,098,032.80. The trade was a 4.72% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 24.40% of the stock is currently owned by company insiders.

Scotts Miracle-Gro Stock Up 1.9%

Scotts Miracle-Gro stock opened at $57.69 on Tuesday. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 32.23 and a beta of 1.88. The Scotts Miracle-Gro Company has a 52 week low of $52.00 and a 52 week high of $72.35. The business's 50-day moving average price is $62.73 and its 200 day moving average price is $61.38.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its earnings results on Wednesday, April 29th. The basic materials company reported $4.53 EPS for the quarter, topping the consensus estimate of $3.97 by $0.56. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.Scotts Miracle-Gro's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $3.98 earnings per share. Equities analysts expect that The Scotts Miracle-Gro Company will post 4.35 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 22nd will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, May 22nd. Scotts Miracle-Gro's dividend payout ratio (DPR) is 147.49%.

About Scotts Miracle-Gro

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.

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