Point72 Hong Kong Ltd Takes $577,000 Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Point72 Hong Kong Ltd purchased a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 8,700 shares of the basic materials company's stock, valued at approximately $577,000.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its stake in Scotts Miracle-Gro by 19.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 3,134 shares of the basic materials company's stock valued at $208,000 after purchasing an additional 514 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Scotts Miracle-Gro in the 4th quarter valued at $26,000. Norges Bank purchased a new stake in Scotts Miracle-Gro in the 4th quarter valued at $9,684,000. Caprock Group LLC raised its position in Scotts Miracle-Gro by 16.1% in the 4th quarter. Caprock Group LLC now owns 3,046 shares of the basic materials company's stock valued at $202,000 after buying an additional 423 shares during the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in Scotts Miracle-Gro in the 4th quarter valued at $1,261,000. Institutional investors and hedge funds own 74.07% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on SMG shares. JPMorgan Chase & Co. dropped their target price on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Truist Financial raised 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 research report on Wednesday, April 2nd. Stifel Nicolaus raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their target price for the stock from $78.00 to $70.00 in a research report on Tuesday, March 4th. UBS Group dropped their target price on shares of Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company lifted their target price on shares of Scotts Miracle-Gro from $65.00 to $67.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $65.83.

Scotts Miracle-Gro Trading Down 0.1%

Shares of NYSE:SMG traded down $0.04 during mid-day trading on Thursday, reaching $60.78. The company had a trading volume of 222,443 shares, compared to its average volume of 961,962. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -126.61 and a beta of 1.98. The company's 50-day moving average price is $55.14 and its 200-day moving average price is $64.66. The Scotts Miracle-Gro Company has a one year low of $45.61 and a one year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the firm posted $3.69 EPS. The business's revenue for the quarter was down 6.8% compared to the same quarter last year. On average, research analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.34%. Scotts Miracle-Gro's dividend payout ratio (DPR) is currently 528.00%.

Scotts Miracle-Gro 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.