Centerstone Investors LLC Has $743,000 Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Centerstone Investors LLC decreased its holdings in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 40.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,200 shares of the basic materials company's stock after selling 7,734 shares during the period. Scotts Miracle-Gro comprises 1.1% of Centerstone Investors LLC's portfolio, making the stock its 24th largest holding. Centerstone Investors LLC's holdings in Scotts Miracle-Gro were worth $743,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Atala Financial Inc acquired a new stake in shares of Scotts Miracle-Gro during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth $26,000. Tortoise Investment Management LLC boosted its position in 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 valued at $34,000 after purchasing an additional 225 shares during the last quarter. Blue Trust Inc. grew its stake in 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 in the last quarter. Finally, Frazier Financial Advisors LLC acquired a new position in Scotts Miracle-Gro in the 4th quarter worth about $45,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Scotts Miracle-Gro Trading Down 0.4%

Scotts Miracle-Gro stock traded down $0.21 during trading hours on Wednesday, reaching $60.34. 162,698 shares of the company were exchanged, compared to its average volume of 960,639. 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 50-day moving average of $55.14 and a 200 day moving average of $63.96. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -125.71 and a beta of 1.98.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the previous year, the company earned $3.69 earnings per share. Scotts Miracle-Gro's revenue for the quarter was down 6.8% on a year-over-year basis. As a group, research analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Friday, May 23rd. Scotts Miracle-Gro's dividend payout ratio is currently 528.00%.

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.