AQR Capital Management LLC Has $27.65 Million Stake in The Scotts Miracle-Gro Company (NYSE:SMG)

AQR Capital Management LLC cut its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 31.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 421,837 shares of the basic materials company's stock after selling 189,140 shares during the period. AQR Capital Management LLC owned 0.73% of Scotts Miracle-Gro worth $27,647,000 as of its most recent filing with the SEC.

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

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 stock was sold at an average price of $65.86, for a total value of $99,646.18. Following the completion of the sale, the director now owns 13,039 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this hyperlink. 25.37% of the stock is currently owned by company insiders.

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock traded down $0.65 during trading on Friday, hitting $54.71. The company's stock had a trading volume of 191,602 shares, compared to its average volume of 946,733. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -113.98 and a beta of 1.98. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $93.90. The stock has a 50-day moving average price of $55.40 and a two-hundred day moving average price of $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. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm posted $3.69 EPS. The company's quarterly revenue was down 6.8% on a year-over-year basis. On average, equities analysts predict that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend is Friday, May 23rd. Scotts Miracle-Gro's dividend payout ratio is presently 528.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group decreased their target price on 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. Jefferies Financial Group raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their target price for the stock from $72.00 to $69.00 in a 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 price objective for the company in a research note on Wednesday, April 2nd. Stifel Nicolaus upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their price target for the company from $78.00 to $70.00 in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company lowered their price objective on Scotts Miracle-Gro from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $65.50.

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.