The Scotts Miracle-Gro Company $SMG Shares Bought by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Scotts Miracle-Gro stake by 161.1% in the first quarter, adding 795,970 shares to own 1.29 million shares valued at approximately $78.4 million, or 2.22% of the company.
• Scotts Miracle-Gro reported quarterly EPS of $4.53, exceeding estimates of $3.97, while revenue rose 2.7% year over year to $1.46 billion.
• Analyst sentiment remains mixed, with three Buy and four Hold ratings; the stock carries a consensus Hold rating and a $73 average price target, compared with a recent price of $69.42.

Arrowstreet Capital Limited Partnership grew its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 161.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,289,974 shares of the basic materials company's stock after purchasing an additional 795,970 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 2.22% of Scotts Miracle-Gro worth $78,443,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Cassaday & Co Wealth Management LLC purchased a new position in Scotts Miracle-Gro in the first quarter valued at about $26,000. Key Capital Management INC acquired a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Scotts Miracle-Gro in the 3rd quarter valued at approximately $32,000. SBI Securities Co. Ltd. boosted its stake in shares of 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 buying an additional 499 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at approximately $53,000. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Stock Performance

Shares of NYSE:SMG opened at $69.42 on Monday. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 38.78 and a beta of 1.81. The Scotts Miracle-Gro Company has a 1-year low of $52.00 and a 1-year high of $75.34. The company's fifty day moving average is $63.70 and its two-hundred day moving average is $63.98.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share (EPS) for the quarter, topping 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%. The company's revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $3.98 EPS. Sell-side analysts expect that The Scotts Miracle-Gro Company will post 4.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SMG has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Scotts Miracle-Gro from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Wednesday, July 8th. UBS Group upped their target price on shares of Scotts Miracle-Gro from $63.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th. Wall Street Zen upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Finally, 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. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.

Want to see what other hedge funds are holding SMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Scotts Miracle-Gro Company (NYSE:SMG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.