BNP Paribas Financial Markets Sells 238,489 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

BNP Paribas Financial Markets trimmed its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 94.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,309 shares of the basic materials company's stock after selling 238,489 shares during the period. BNP Paribas Financial Markets' holdings in Scotts Miracle-Gro were worth $949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SMG. Atala Financial Inc acquired a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at $26,000. Tortoise Investment Management LLC increased its holdings in shares of Scotts Miracle-Gro by 77.3% in the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 225 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Scotts Miracle-Gro by 68.3% in the fourth quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 252 shares during the last quarter. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at $45,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Scotts Miracle-Gro Stock Up 2.0%

Shares of Scotts Miracle-Gro stock traded up $1.20 during trading on Tuesday, reaching $60.62. The company's stock had a trading volume of 725,567 shares, compared to its average volume of 963,800. The business's 50-day moving average price is $55.14 and its 200-day moving average price is $63.96. The firm has a market cap of $3.50 billion, a PE ratio of -126.29 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.

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, 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 business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the prior year, the business posted $3.69 earnings per share. Scotts Miracle-Gro's revenue was down 6.8% compared to the same quarter last year. Equities 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.64 annualized dividend and a yield of 4.35%. Scotts Miracle-Gro's dividend payout ratio is 528.00%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their price objective for the company from $72.00 to $69.00 in a report on Monday, April 7th. JPMorgan Chase & Co. decreased their price objective on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and reduced their target price for the company from $78.00 to $70.00 in a research report on Tuesday, March 4th. Wells Fargo & Company boosted their target price on shares of Scotts Miracle-Gro from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Finally, Truist Financial raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 target price for the company in a research report on Wednesday, April 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Scotts Miracle-Gro currently has an average rating of "Moderate Buy" and an average target price of $65.83.

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.