690 Shares in Scotts Miracle-Gro Co (SMG) Purchased by First Hawaiian Bank

First Hawaiian Bank acquired a new stake in shares of Scotts Miracle-Gro Co (NYSE:SMG) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 690 shares of the basic materials company’s stock, valued at approximately $54,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SMG. JPMorgan Chase & Co. raised its stake in Scotts Miracle-Gro by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 75,427 shares of the basic materials company’s stock worth $5,939,000 after buying an additional 4,316 shares in the last quarter. BlackRock Inc. raised its stake in Scotts Miracle-Gro by 1.8% in the third quarter. BlackRock Inc. now owns 3,566,422 shares of the basic materials company’s stock worth $280,783,000 after buying an additional 61,817 shares in the last quarter. Credit Suisse AG raised its stake in Scotts Miracle-Gro by 17.0% in the third quarter. Credit Suisse AG now owns 38,287 shares of the basic materials company’s stock worth $3,015,000 after buying an additional 5,569 shares in the last quarter. Hsbc Holdings PLC raised its stake in Scotts Miracle-Gro by 14.1% in the third quarter. Hsbc Holdings PLC now owns 5,352 shares of the basic materials company’s stock worth $421,000 after buying an additional 662 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Scotts Miracle-Gro in the third quarter worth approximately $653,000. 64.91% of the stock is owned by institutional investors.

Shares of NYSE:SMG opened at $81.87 on Monday. The company has a market capitalization of $4.49 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. Scotts Miracle-Gro Co has a 52 week low of $57.96 and a 52 week high of $91.81. The company has a quick ratio of 0.56, a current ratio of 1.81 and a debt-to-equity ratio of 8.63.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, January 30th. The basic materials company reported ($1.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.24) by ($0.15). Scotts Miracle-Gro had a return on equity of 47.98% and a net margin of 0.19%. The firm had revenue of $298.10 million during the quarter, compared to analysts’ expectations of $287.24 million. During the same period in the prior year, the firm posted ($1.08) earnings per share. Scotts Miracle-Gro’s revenue for the quarter was up 34.6% compared to the same quarter last year. On average, sell-side analysts predict that Scotts Miracle-Gro Co will post 4.2 EPS for the current fiscal year.

In other Scotts Miracle-Gro news, Director Katherine Littlefield Hagedorn sold 2,665 shares of Scotts Miracle-Gro stock in a transaction on Monday, February 4th. The shares were sold at an average price of $74.07, for a total value of $197,396.55. Following the transaction, the director now directly owns 4,035 shares of the company’s stock, valued at $298,872.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 30.37% of the stock is currently owned by insiders.

SMG has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Tuesday, January 8th. Raymond James raised shares of Scotts Miracle-Gro from a “market perform” rating to an “outperform” rating and set a $71.00 price objective for the company in a research note on Monday, December 17th. Finally, JPMorgan Chase & Co. raised shares of Scotts Miracle-Gro from an “underweight” rating to a “neutral” rating and set a $70.00 price objective for the company in a research note on Thursday, January 31st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $77.62.

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About Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

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

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