Avior Wealth Management LLC Sells 4,003 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Avior Wealth Management LLC reduced its stake in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 47.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,516 shares of the basic materials company's stock after selling 4,003 shares during the period. Avior Wealth Management LLC's holdings in Scotts Miracle-Gro were worth $248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SMG. US Bancorp DE grew its holdings in shares of Scotts Miracle-Gro by 0.4% in the fourth quarter. US Bancorp DE now owns 42,303 shares of the basic materials company's stock worth $2,807,000 after purchasing an additional 154 shares during the last quarter. Investment House LLC increased its position in shares of Scotts Miracle-Gro by 0.3% in the fourth quarter. Investment House LLC now owns 61,190 shares of the basic materials company's stock valued at $4,059,000 after acquiring an additional 195 shares during the period. Huntington National Bank raised its stake in shares of Scotts Miracle-Gro by 5.8% during the fourth quarter. Huntington National Bank now owns 3,664 shares of the basic materials company's stock valued at $243,000 after acquiring an additional 200 shares during the last quarter. Sagespring Wealth Partners LLC boosted its holdings in shares of Scotts Miracle-Gro by 4.8% during the first quarter. Sagespring Wealth Partners LLC now owns 4,524 shares of the basic materials company's stock worth $248,000 after purchasing an additional 207 shares during the period. Finally, Tortoise Investment Management LLC boosted its holdings in shares of Scotts Miracle-Gro by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock worth $34,000 after purchasing an additional 225 shares during the period. Institutional investors own 74.07% of the company's stock.

Scotts Miracle-Gro Trading Up 1.4%

Scotts Miracle-Gro stock traded up $0.88 on Friday, hitting $65.86. 842,005 shares of the stock traded hands, compared to its average volume of 964,898. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $93.90. The firm has a market cap of $3.80 billion, a P/E ratio of 131.73 and a beta of 1.99. The business's fifty day simple moving average is $58.98 and its 200 day simple moving average is $61.98.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.95 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.50 billion. Scotts Miracle-Gro had a net margin of 1.04% and a negative return on equity of 56.15%. Scotts Miracle-Gro's revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted $3.69 EPS. As a group, analysts predict that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 23rd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date was Friday, May 23rd. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently 528.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SMG shares. JPMorgan Chase & Co. lowered their price target on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. UBS Group dropped their price target on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and reduced their price objective for the company from $72.00 to $69.00 in a research report on Monday, April 7th. Wells Fargo & Company raised their target price on shares of Scotts Miracle-Gro from $67.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Finally, Truist Financial lifted their target price on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $67.67.

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.