Alyeska Investment Group L.P. Makes New $39.43 Million Investment in The Scotts Miracle-Gro Company (NYSE:SMG)

Alyeska Investment Group L.P. bought a new stake in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 594,428 shares of the basic materials company's stock, valued at approximately $39,434,000. Alyeska Investment Group L.P. owned 1.03% of Scotts Miracle-Gro as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SMG. Schonfeld Strategic Advisors LLC boosted its holdings in Scotts Miracle-Gro by 157.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 469,336 shares of the basic materials company's stock valued at $31,136,000 after acquiring an additional 286,962 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Scotts Miracle-Gro during the 4th quarter worth approximately $1,367,000. Voya Investment Management LLC boosted its position in Scotts Miracle-Gro by 15.9% in the 4th quarter. Voya Investment Management LLC now owns 6,402 shares of the basic materials company's stock valued at $425,000 after buying an additional 876 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Scotts Miracle-Gro by 50.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,258 shares of the basic materials company's stock worth $349,000 after acquiring an additional 1,763 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in Scotts Miracle-Gro by 9.1% in the fourth quarter. MetLife Investment Management LLC now owns 24,020 shares of the basic materials company's stock valued at $1,593,000 after purchasing an additional 1,998 shares during the period. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Scotts Miracle-Gro news, Director Brian E. Sandoval sold 1,513 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $65.86, for a total value of $99,646.18. Following the sale, the director now owns 13,039 shares in the company, valued at approximately $858,748.54. This trade represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 25.37% of the company's stock.

Scotts Miracle-Gro Price Performance

SMG traded down $0.64 during midday trading on Friday, reaching $54.72. 232,616 shares of the company's stock were exchanged, compared to its average volume of 946,902. The Scotts Miracle-Gro Company has a 1-year low of $45.61 and a 1-year high of $93.90. The stock has a market capitalization of $3.14 billion, a PE ratio of -114.00 and a beta of 1.98. The business's 50-day moving average price is $55.40 and its 200 day moving average price is $66.38.

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

Scotts Miracle-Gro Announces Dividend

The firm 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 $0.66 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.82%. Scotts Miracle-Gro's payout ratio is currently 528.00%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price objective for the company in a research note on Wednesday, April 2nd. 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 report on Thursday, May 1st. Jefferies Financial Group raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $72.00 to $69.00 in a research report on Monday, April 7th. UBS Group dropped 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, May 1st. Finally, Wells Fargo & Company decreased their price target on Scotts Miracle-Gro from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.50.

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.