Alliancebernstein L.P. Trims Holdings in Scotts Miracle-Gro Company (The) (SMG)

Alliancebernstein L.P. lowered its position in Scotts Miracle-Gro Company (The) (NYSE:SMG) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,079 shares of the basic materials company’s stock after selling 180 shares during the quarter. Alliancebernstein L.P.’s holdings in Scotts Miracle-Gro Company (The) were worth $2,601,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. World Asset Management Inc lifted its position in shares of Scotts Miracle-Gro Company (The) by 0.5% in the 2nd quarter. World Asset Management Inc now owns 3,135 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 17 shares during the period. US Bancorp DE lifted its position in shares of Scotts Miracle-Gro Company (The) by 0.3% in the 2nd quarter. US Bancorp DE now owns 15,101 shares of the basic materials company’s stock worth $1,351,000 after acquiring an additional 49 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Scotts Miracle-Gro Company (The) by 1.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,590 shares of the basic materials company’s stock worth $321,000 after acquiring an additional 57 shares during the period. Delta Asset Management LLC TN lifted its position in shares of Scotts Miracle-Gro Company (The) by 3.8% in the 2nd quarter. Delta Asset Management LLC TN now owns 2,025 shares of the basic materials company’s stock worth $181,000 after acquiring an additional 75 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Scotts Miracle-Gro Company (The) by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,664 shares of the basic materials company’s stock worth $149,000 after acquiring an additional 116 shares during the period. Institutional investors own 69.07% of the company’s stock.

Scotts Miracle-Gro Company (SMG) opened at 98.95 on Friday. Scotts Miracle-Gro Company has a 52-week low of $81.48 and a 52-week high of $99.99. The company’s 50 day moving average price is $96.19 and its 200 day moving average price is $92.87. The company has a market cap of $5.78 billion, a P/E ratio of 26.70 and a beta of 0.39.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last released its earnings results on Tuesday, August 1st. The basic materials company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.12. Scotts Miracle-Gro Company (The) had a return on equity of 36.28% and a net margin of 7.85%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the company earned $2.16 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that Scotts Miracle-Gro Company will post $4.08 EPS for the current fiscal year.

In other Scotts Miracle-Gro Company (The) news, CFO Thomas Randal Coleman sold 1,226 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $99.67, for a total transaction of $122,195.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman James Hagedorn sold 43,444 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $95.60, for a total value of $4,153,246.40. Following the sale, the chairman now owns 66,009 shares of the company’s stock, valued at $6,310,460.40. The disclosure for this sale can be found here. Insiders have sold 256,085 shares of company stock valued at $24,486,888 over the last 90 days. Corporate insiders own 28.16% of the company’s stock.

A number of analysts have commented on the company. Zacks Investment Research downgraded Scotts Miracle-Gro Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. BidaskClub upgraded Scotts Miracle-Gro Company (The) from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, KeyCorp reiterated a “hold” rating on shares of Scotts Miracle-Gro Company (The) in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $100.00.

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Scotts Miracle-Gro Company (The) Profile

The Scotts Miracle-Gro Company (Scotts Miracle-Gro) is a manufacturer and marketer of branded consumer lawn and garden products. The Company’s segments include Global Consumer. In North America, its brands include Scotts and Turf Builder lawn and grass seed products; Miracle-Gro, Nature’s Care, Scotts, LiquaFeed and Osmocote gardening and landscape products; and Ortho, Roundup, Home Defense and Tomcat branded insect control, weed control and rodent control products.

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Institutional Ownership by Quarter for Scotts Miracle-Gro Company (The) (NYSE:SMG)

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