Lido Advisors LLC lowered its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 44.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,411 shares of the basic materials company's stock after selling 20,104 shares during the period. Lido Advisors LLC's holdings in Scotts Miracle-Gro were worth $1,545,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in SMG. Cassaday & Co Wealth Management LLC bought a new stake in shares of Scotts Miracle-Gro in the 1st quarter worth $26,000. Key Capital Management INC bought a new stake in Scotts Miracle-Gro in the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new position in Scotts Miracle-Gro in the 3rd quarter worth about $32,000. SBI Securities Co. Ltd. lifted its stake in Scotts Miracle-Gro by 127.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 499 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Scotts Miracle-Gro in the fourth quarter worth approximately $53,000. 74.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
SMG has been the subject of a number of research reports. Jefferies Financial Group reiterated a "buy" rating and set a $79.00 target price on shares of Scotts Miracle-Gro in a research note on Wednesday, April 29th. Stifel Nicolaus dropped their price objective on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a "buy" rating on the stock in a report on Monday, June 8th. UBS Group increased their price target on shares of Scotts Miracle-Gro from $63.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, July 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th. Finally, Wells Fargo & Company upped their price objective on Scotts Miracle-Gro from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $73.00.
Check Out Our Latest Analysis on SMG
Scotts Miracle-Gro Stock Up 0.2%
Shares of Scotts Miracle-Gro stock opened at $69.42 on Monday. The Scotts Miracle-Gro Company has a 52 week low of $52.00 and a 52 week high of $75.34. The stock's 50-day simple moving average is $63.70 and its 200-day simple moving average is $63.98. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 38.78 and a beta of 1.81.
Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced 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. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. Scotts Miracle-Gro's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.98 EPS. On average, equities analysts expect that The Scotts Miracle-Gro Company will post 4.3 earnings per share for the current year.
Scotts Miracle-Gro Company Profile
(
Free Report)
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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