Bank of New York Mellon Corp Lowers Stake in The Scotts Miracle-Gro Company (NYSE:SMG)

Bank of New York Mellon Corp decreased its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 542,065 shares of the basic materials company's stock after selling 19,521 shares during the period. Bank of New York Mellon Corp owned 0.94% of Scotts Miracle-Gro worth $35,961,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. De Lisle Partners LLP purchased a new position in shares of Scotts Miracle-Gro during the 3rd quarter valued at about $10,162,000. Algert Global LLC increased its holdings in shares of Scotts Miracle-Gro by 202.2% during the 3rd quarter. Algert Global LLC now owns 25,140 shares of the basic materials company's stock valued at $2,180,000 after purchasing an additional 16,821 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Scotts Miracle-Gro by 5.0% in the 3rd quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company's stock valued at $275,082,000 after purchasing an additional 151,354 shares during the period. Versor Investments LP acquired a new position in shares of Scotts Miracle-Gro in the 3rd quarter valued at $1,110,000. Finally, Edgestream Partners L.P. increased its holdings in Scotts Miracle-Gro by 63.5% in the third quarter. Edgestream Partners L.P. now owns 56,337 shares of the basic materials company's stock valued at $4,884,000 after buying an additional 21,872 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

SMG has been the topic of a number of research reports. Wells Fargo & Company decreased their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Stifel Nicolaus upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and reduced their target price for the company from $78.00 to $70.00 in a research report on Tuesday, March 4th. UBS Group lowered their target price on Scotts Miracle-Gro from $77.00 to $72.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, Jefferies Financial Group initiated coverage on Scotts Miracle-Gro in a research report on Monday, December 9th. They set a "hold" rating and a $72.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $74.00.

Scotts Miracle-Gro Trading Up 0.7 %

NYSE:SMG traded up $0.42 during trading hours on Tuesday, hitting $62.02. The company's stock had a trading volume of 1,367,170 shares, compared to its average volume of 794,278. The stock has a market capitalization of $3.56 billion, a P/E ratio of -129.21 and a beta of 1.79. The stock has a fifty day moving average of $66.65 and a 200-day moving average of $73.53. The Scotts Miracle-Gro Company has a 52-week low of $55.68 and a 52-week high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($1.23) by $0.34. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. During the same period last year, the company earned ($1.45) EPS. On average, sell-side analysts forecast that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend was Friday, February 21st. Scotts Miracle-Gro's payout ratio is -550.00%.

Insider Transactions at Scotts Miracle-Gro

In related news, Director Hagedorn Partnership, L.P. sold 12,123 shares of the company's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $66.86, for a total value of $810,543.78. Following the completion of the sale, the director now owns 13,432,151 shares in the company, valued at $898,073,615.86. This represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian E. Sandoval sold 1,513 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $65.86, for a total transaction of $99,646.18. Following the completion of the sale, the director now directly owns 13,039 shares of the company's stock, valued at $858,748.54. The trade was a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 159,937 shares of company stock worth $11,379,275. Corporate insiders own 25.37% of the company's stock.

Scotts Miracle-Gro Profile

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.