Today The BB&T Corp Acquires 4,470 Shares of Scotts Miracle-Gro Company (The) (SMG)

Today The BB&T Corp Acquires 4,470 Shares of Scotts Miracle-Gro Company (The) (SMG)

BB&T Corp increased its position in shares of Scotts Miracle-Gro Company (The) (NYSE:SMG) by 3.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 153,412 shares of the company’s stock after buying an additional 4,470 shares during the period. BB&T Corp’s holdings in Scotts Miracle-Gro Company (The) were worth $12,774,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Creative Planning boosted its stake in shares of Scotts Miracle-Gro Company (The) by 41.6% in the third quarter. Creative Planning now owns 1,223 shares of the company’s stock worth $102,000 after buying an additional 359 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Scotts Miracle-Gro Company (The) by 100.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,936 shares of the company’s stock worth $135,000 after buying an additional 971 shares during the period. Advisor Group Inc. bought a new stake in shares of Scotts Miracle-Gro Company (The) during the second quarter worth approximately $153,000. LS Investment Advisors LLC boosted its stake in shares of Scotts Miracle-Gro Company (The) by 71.7% in the second quarter. LS Investment Advisors LLC now owns 2,726 shares of the company’s stock worth $191,000 after buying an additional 1,138 shares during the period. Finally, Yorktown Management & Research Co Inc bought a new stake in shares of Scotts Miracle-Gro Company (The) during the third quarter worth approximately $208,000. 70.73% of the stock is owned by institutional investors.

Scotts Miracle-Gro Company (NYSE:SMG) traded down 0.15% during mid-day trading on Wednesday, reaching $95.25. The company had a trading volume of 41,019 shares. Scotts Miracle-Gro Company has a one year low of $62.72 and a one year high of $98.82. The firm’s 50-day moving average is $94.84 and its 200-day moving average is $85.84. The firm has a market capitalization of $5.72 billion, a P/E ratio of 18.74 and a beta of 0.64.

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

SMG has been the subject of a number of recent analyst reports. Zacks Investment Research raised Scotts Miracle-Gro Company (The) from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research note on Friday, October 28th. Gabelli initiated coverage on Scotts Miracle-Gro Company (The) in a research note on Thursday, October 20th. They issued a “buy” rating for the company. Bank of America Corporation raised Scotts Miracle-Gro Company (The) from an “underperform” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Thursday, December 8th. Finally, SunTrust Banks, Inc. cut Scotts Miracle-Gro Company (The) from a “buy” rating to a “hold” rating and set a $95.00 price target for the company. in a research note on Wednesday, January 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $98.25.

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