Hsbc Holdings PLC Has $4.93 Million Stock Position in The Scotts Miracle-Gro Company $SMG

Hsbc Holdings PLC cut its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,228 shares of the basic materials company’s stock after selling 7,853 shares during the period. Hsbc Holdings PLC’s holdings in Scotts Miracle-Gro were worth $4,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in Scotts Miracle-Gro by 1.1% during the 2nd quarter. State Street Corp now owns 1,522,093 shares of the basic materials company’s stock worth $100,397,000 after buying an additional 16,298 shares during the period. Ameriprise Financial Inc. raised its position in shares of Scotts Miracle-Gro by 29.5% during the third quarter. Ameriprise Financial Inc. now owns 1,165,367 shares of the basic materials company’s stock worth $66,368,000 after purchasing an additional 265,677 shares during the period. Captrust Financial Advisors raised its position in shares of Scotts Miracle-Gro by 0.3% during the fourth quarter. Captrust Financial Advisors now owns 1,157,714 shares of the basic materials company’s stock worth $67,553,000 after purchasing an additional 2,899 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of Scotts Miracle-Gro by 4.9% during the first quarter. Deprince Race & Zollo Inc. now owns 1,087,339 shares of the basic materials company’s stock worth $66,121,000 after purchasing an additional 51,148 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Scotts Miracle-Gro by 26.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 898,519 shares of the basic materials company’s stock worth $51,171,000 after purchasing an additional 187,130 shares in the last quarter. 74.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $79.00 price target on shares of Scotts Miracle-Gro in a research report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Monday, May 4th. UBS Group raised their price objective 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. Wells Fargo & Company lifted their price objective on shares of Scotts Miracle-Gro from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $73.00.

Scotts Miracle-Gro Stock Up 2.8%

SMG stock opened at $69.42 on Friday. The firm has a market capitalization of $4.04 billion, a PE ratio of 38.78 and a beta of 1.81. The Scotts Miracle-Gro Company has a twelve month low of $52.00 and a twelve month high of $75.34. The stock’s 50 day moving average is $63.70 and its 200-day moving average is $63.96.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $4.53 EPS for the quarter, beating analysts’ consensus estimates of $3.97 by $0.56. The business had revenue of $1.46 billion during 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 quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.98 EPS. On average, equities research analysts anticipate that The Scotts Miracle-Gro Company will post 4.3 earnings per share for the current fiscal year.

Scotts Miracle-Gro Company 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.