23,095 Shares in The Scotts Miracle-Gro Company (NYSE:SMG) Purchased by Scott & Selber Inc.

Scott & Selber Inc. purchased a new position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,095 shares of the basic materials company's stock, valued at approximately $1,268,000.

Other hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in Scotts Miracle-Gro in the fourth quarter valued at about $53,453,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Scotts Miracle-Gro by 72.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 628,414 shares of the basic materials company's stock worth $41,689,000 after purchasing an additional 264,369 shares during the period. Raymond James Financial Inc. bought a new position in shares of Scotts Miracle-Gro in the 4th quarter worth approximately $39,986,000. Alyeska Investment Group L.P. bought a new position in shares of Scotts Miracle-Gro in the 4th quarter worth approximately $39,434,000. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of Scotts Miracle-Gro by 157.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 469,336 shares of the basic materials company's stock worth $31,136,000 after purchasing an additional 286,962 shares during the period. Institutional investors own 74.07% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on SMG. UBS Group decreased their price objective 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. Stifel Nicolaus downgraded shares of Scotts Miracle-Gro from a "buy" rating to a "hold" rating and raised their price objective for the company from $70.00 to $71.00 in a research report on Monday, June 9th. Jefferies Financial Group raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their price target for the company from $72.00 to $69.00 in a report on Monday, April 7th. JPMorgan Chase & Co. decreased their price target on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Truist Financial lifted their price objective on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $67.67.

Scotts Miracle-Gro Price Performance

Shares of NYSE SMG opened at $65.02 on Friday. The business's 50 day moving average is $58.98 and its two-hundred day moving average is $61.98. 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 $3.75 billion, a P/E ratio of 130.04 and a beta of 1.99.

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 earnings per share for the quarter, beating analysts' consensus estimates of $3.95 by $0.03. Scotts Miracle-Gro had a net margin of 1.04% and a negative return on equity of 56.15%. 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 business posted $3.69 earnings per share. The business's revenue was down 6.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.66 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.06%. Scotts Miracle-Gro's dividend payout ratio is 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.

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