Susquehanna Fundamental Investments LLC Makes New $1.37 Million Investment in The Scotts Miracle-Gro Company (NYSE:SMG)

Susquehanna Fundamental Investments LLC bought a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 20,608 shares of the basic materials company's stock, valued at approximately $1,367,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMG. Atala Financial Inc acquired a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in Scotts Miracle-Gro in the fourth quarter worth $26,000. Tortoise Investment Management LLC raised its holdings in Scotts Miracle-Gro by 77.3% in the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock worth $34,000 after purchasing an additional 225 shares during the period. Blue Trust Inc. boosted its position in shares of Scotts Miracle-Gro by 68.3% during the fourth quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock worth $41,000 after purchasing an additional 252 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Scotts Miracle-Gro in the 3rd quarter valued at $44,000. Institutional investors own 74.07% of the company's stock.

Scotts Miracle-Gro Price Performance

Shares of SMG traded up $1.62 during mid-day trading on Monday, hitting $56.12. 2,200,466 shares of the company's stock were exchanged, compared to its average volume of 946,588. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $93.90. The company has a market cap of $3.23 billion, a PE ratio of -116.91 and a beta of 1.98. The company has a 50-day simple moving average of $55.67 and a 200 day simple moving average of $67.03.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share for the quarter, beating analysts' consensus estimates of $3.95 by $0.03. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm earned $3.69 earnings per share. The firm's revenue for the quarter was down 6.8% compared to the same quarter last year. On average, analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.66 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.64 dividend on an annualized basis and a yield of 4.70%. Scotts Miracle-Gro's dividend payout ratio is 528.00%.

Analyst Ratings Changes

SMG has been the topic of several recent analyst reports. UBS Group reduced their target price on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday. Jefferies Financial Group upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their price objective for the company from $72.00 to $69.00 in a research report on Monday, April 7th. Truist Financial upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 target price on the stock in a report on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their price target on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday. Finally, Stifel Nicolaus upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $78.00 to $70.00 in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.50.

Insiders Place Their Bets

In related news, Director Brian E. Sandoval sold 1,513 shares of the business's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $65.86, for a total transaction of $99,646.18. Following the transaction, the director now directly owns 13,039 shares in the company, valued at approximately $858,748.54. The trade was a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 12,123 shares of Scotts Miracle-Gro stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $66.86, for a total transaction of $810,543.78. Following the completion of the transaction, the director now directly owns 13,432,151 shares of the company's stock, valued at approximately $898,073,615.86. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders own 25.37% of the company's stock.

Scotts Miracle-Gro Company Profile

The Scotts Miracle-Gro Company, together with its subsidiaries, manufactures, markets, and sells products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. It operates through three segments: U.S. Consumer, Hawthorne, and Other. The company provides lawn care products, comprising lawn fertilizers, grass seed products, spreaders, and other durable products, as well as lawn-related weed, pest, and disease control products; and gardening and landscape products, which include water-soluble and continuous-release plant foods, potting mixes, garden soils, mulches and ground cover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.