Wealthsource Partners LLC Reduces Stake in Scotts Miracle-Gro Company (The) (SMG)

Wealthsource Partners LLC Reduces Stake in Scotts Miracle-Gro Company (The) (SMG)

Wealthsource Partners LLC lowered its position in Scotts Miracle-Gro Company (The) (NYSE:SMG) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,554 shares of the company’s stock after selling 85 shares during the period. Wealthsource Partners LLC’s holdings in Scotts Miracle-Gro Company (The) were worth $629,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Mackenzie Financial Corp raised its stake in Scotts Miracle-Gro Company (The) by 1.0% in the second quarter. Mackenzie Financial Corp now owns 6,690 shares of the company’s stock worth $468,000 after buying an additional 66 shares during the period. Atria Investments LLC raised its stake in Scotts Miracle-Gro Company (The) by 2.4% in the third quarter. Atria Investments LLC now owns 5,744 shares of the company’s stock worth $478,000 after buying an additional 132 shares during the period. Schulhoff & Co. Inc. raised its stake in Scotts Miracle-Gro Company (The) by 0.3% in the second quarter. Schulhoff & Co. Inc. now owns 51,940 shares of the company’s stock worth $3,631,000 after buying an additional 173 shares during the period. HighTower Advisors LLC raised its stake in Scotts Miracle-Gro Company (The) by 1.7% in the second quarter. HighTower Advisors LLC now owns 12,687 shares of the company’s stock worth $887,000 after buying an additional 214 shares during the period. Finally, Capital One National Association raised its stake in Scotts Miracle-Gro Company (The) by 1.6% in the third quarter. Capital One National Association now owns 15,368 shares of the company’s stock worth $1,280,000 after buying an additional 243 shares during the period. Institutional investors and hedge funds own 70.73% of the company’s stock.

Shares of Scotts Miracle-Gro Company (NYSE:SMG) traded down 0.36% during midday trading on Friday, hitting $93.76. The company had a trading volume of 39,976 shares. Scotts Miracle-Gro Company has a 52 week low of $62.72 and a 52 week high of $98.82. The firm’s 50 day moving average is $95.00 and its 200 day moving average is $85.96. The company has a market capitalization of $5.63 billion, a P/E ratio of 18.45 and a beta of 0.64.

Scotts Miracle-Gro Company (The) (NYSE:SMG) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by $0.02. Scotts Miracle-Gro Company (The) had a return on equity of 33.41% and a net margin of 11.09%. The firm earned $402.30 million during the quarter, compared to analysts’ expectations of $370 million. During the same period last year, the company earned ($0.12) earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Scotts Miracle-Gro Company will post $4.23 EPS for the current year.

A number of equities research analysts have commented on the company. SunTrust Banks, Inc. lowered Scotts Miracle-Gro Company (The) from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a research report on Wednesday, January 11th. Zacks Investment Research upgraded Scotts Miracle-Gro Company (The) from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Tuesday, January 10th. Bank of America Corp upgraded Scotts Miracle-Gro Company (The) from an “underperform” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Thursday, December 8th. Finally, Gabelli assumed coverage on Scotts Miracle-Gro Company (The) in a research report on Thursday, October 20th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $98.25.

In other Scotts Miracle-Gro Company (The) news, major shareholder Hagedorn Partnership, L.P. sold 20,000 shares of the company’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $95.00, for a total value of $1,900,000.00. Following the transaction, the insider now directly owns 15,795,318 shares in the company, valued at approximately $1,500,555,210. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman James Hagedorn sold 15,984 shares of the company’s stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $95.42, for a total transaction of $1,525,193.28. Following the completion of the transaction, the chairman now owns 9,079 shares in the company, valued at $866,318.18. The disclosure for this sale can be found here. Corporate insiders own 28.16% of the company’s stock.

About Scotts Miracle-Gro Company (The)

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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