Point72 Hong Kong Ltd Buys Shares of 8,700 The Scotts Miracle-Gro Company (NYSE:SMG)

Point72 Hong Kong Ltd purchased a new stake in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,700 shares of the basic materials company's stock, valued at approximately $577,000.

Other hedge funds have also recently bought and sold shares of the company. Atala Financial Inc purchased a new position in Scotts Miracle-Gro in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Scotts Miracle-Gro in the fourth quarter valued at approximately $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 valued at $34,000 after buying an additional 225 shares during the period. Blue Trust Inc. raised its holdings in Scotts Miracle-Gro by 68.3% in the fourth quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock valued at $41,000 after buying an additional 252 shares during the period. Finally, Frazier Financial Advisors LLC purchased a new position in Scotts Miracle-Gro in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 74.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on SMG shares. JPMorgan Chase & Co. dropped their price objective on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their price objective for the company from $72.00 to $69.00 in a research note on Monday, April 7th. Stifel Nicolaus raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their price objective for the company from $78.00 to $70.00 in a research report on Tuesday, March 4th. Truist Financial raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 target price on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group cut their price target on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Scotts Miracle-Gro has a consensus rating of "Moderate Buy" and an average price target of $65.83.

Scotts Miracle-Gro Price Performance

SMG traded up $0.02 during trading on Tuesday, hitting $62.84. The company had a trading volume of 575,928 shares, compared to its average volume of 964,735. The company has a market cap of $3.63 billion, a PE ratio of -130.91 and a beta of 1.98. The business has a 50-day moving average of $55.07 and a 200-day moving average of $64.70. The Scotts Miracle-Gro Company has a 1-year low of $45.61 and a 1-year high of $93.90.

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

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Friday, May 23rd. Scotts Miracle-Gro's dividend payout ratio is presently 528.00%.

About Scotts Miracle-Gro

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.