Bayesian Capital Management LP bought a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,002 shares of the basic materials company's stock, valued at approximately $1,261,000.
A number of other institutional investors and hedge funds have also bought and sold shares of SMG. Raymond James Financial Inc. purchased a new stake in Scotts Miracle-Gro in the fourth quarter worth approximately $39,986,000. Alyeska Investment Group L.P. purchased a new stake in Scotts Miracle-Gro in the 4th quarter worth approximately $39,434,000. Schonfeld Strategic Advisors LLC lifted its stake in Scotts Miracle-Gro by 157.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 469,336 shares of the basic materials company's stock worth $31,136,000 after acquiring an additional 286,962 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of Scotts Miracle-Gro by 1.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 258,825 shares of the basic materials company's stock valued at $17,170,000 after purchasing an additional 2,850 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Scotts Miracle-Gro by 4.6% during the 4th quarter. Nordea Investment Management AB now owns 219,532 shares of the basic materials company's stock valued at $14,439,000 after acquiring an additional 9,684 shares in the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.
Scotts Miracle-Gro Trading Up 2.1 %
Shares of SMG stock opened at $54.49 on Monday. The stock's 50-day moving average price is $55.67 and its 200-day moving average price is $67.03. The Scotts Miracle-Gro Company has a 12-month low of $45.61 and a 12-month high of $93.90. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -113.52 and a beta of 1.98.
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, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm earned $3.69 earnings per share. Scotts Miracle-Gro's quarterly revenue was down 6.8% compared to the same quarter last year. As a group, research analysts predict that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.
Scotts Miracle-Gro Dividend Announcement
The company 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 dividend of $0.66 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.64 annualized dividend and a yield of 4.84%. Scotts Miracle-Gro's payout ratio is currently 528.00%.
Insider Buying and Selling at Scotts Miracle-Gro
In other news, Director Hagedorn Partnership, L.P. sold 12,123 shares of Scotts Miracle-Gro stock in a transaction on 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 sale, the director now directly owns 13,432,151 shares in the company, valued at approximately $898,073,615.86. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian E. Sandoval sold 1,513 shares of Scotts Miracle-Gro stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $65.86, for a total value of $99,646.18. Following the sale, the director now directly owns 13,039 shares of the company's stock, valued at $858,748.54. This trade represents a 10.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 25.37% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Truist Financial upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price objective on the stock in a report on Wednesday, April 2nd. Stifel Nicolaus raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their target price for the stock from $78.00 to $70.00 in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price objective on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday. Jefferies Financial Group upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their price target for the stock from $72.00 to $69.00 in a research note on Monday, April 7th. Finally, Wells Fargo & Company reduced their target price on shares of 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 research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Scotts Miracle-Gro presently has an average rating of "Moderate Buy" and an average target price of $65.50.
View Our Latest Analysis on SMG
Scotts Miracle-Gro Company Profile
(
Free Report)
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.
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