Arrowpoint Investment Partners Singapore Pte. Ltd. Invests $274,000 in The Scotts Miracle-Gro Company (NYSE:SMG)

Key Points

• Arrowpoint Investment Partners Singapore Pte. Ltd. has acquired a new stake in The Scotts Miracle-Gro Company, purchasing 5,000 shares worth approximately $274,000.
• Insider selling occurred as Director Hagedorn Partnership, L.P. sold 70,000 shares for a total of $4.36 million, decreasing their ownership position by 0.52%.
• The Scotts Miracle-Gro Company reported earnings of $2.59 per share for the last quarter, exceeding analysts' estimates and generating revenue of $1.19 billion, which was slightly below expectations.

Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,000 shares of the basic materials company's stock, valued at approximately $274,000.

Several other institutional investors also recently bought and sold shares of the company. Spire Wealth Management lifted its holdings in shares of Scotts Miracle-Gro by 477.9% during the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 454 shares during the last quarter. UMB Bank n.a. increased its position in Scotts Miracle-Gro by 479.4% during the 1st quarter. UMB Bank n.a. now owns 562 shares of the basic materials company's stock valued at $31,000 after buying an additional 465 shares in the last quarter. Avalon Trust Co acquired a new position in Scotts Miracle-Gro during the 1st quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Scotts Miracle-Gro in the fourth quarter worth about $73,000. Finally, GAMMA Investing LLC boosted its holdings in Scotts Miracle-Gro by 31.6% in the first quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company's stock worth $89,000 after acquiring an additional 388 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 70,000 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $62.28, for a total transaction of $4,359,600.00. Following the completion of the transaction, the director directly owned 13,274,274 shares of the company's stock, valued at $826,721,784.72. The trade was a 0.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 25.37% of the stock is owned by insiders.

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock opened at $60.88 on Wednesday. The stock has a market cap of $3.52 billion, a PE ratio of 80.11 and a beta of 1.97. The firm has a fifty day moving average price of $65.03 and a 200 day moving average price of $61.20. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, beating analysts' consensus estimates of $2.19 by $0.40. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business posted $2.31 EPS. The company's revenue was down 1.2% on a year-over-year basis. As a group, equities analysts expect that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.3%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently 347.37%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SMG shares. Wells Fargo & Company upped their price objective on shares of Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. UBS Group set a $68.00 price target on shares of Scotts Miracle-Gro and gave the company a "neutral" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. lowered their price objective on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Truist Financial set a $80.00 target price on Scotts Miracle-Gro and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Wall Street Zen upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.17.

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.

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