Envestnet Portfolio Solutions Inc. Decreases Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Envestnet Portfolio Solutions Inc. lessened its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 39.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,813 shares of the basic materials company's stock after selling 6,508 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Scotts Miracle-Gro were worth $539,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. IFP Advisors Inc lifted its position in shares of Scotts Miracle-Gro by 115.8% during the 4th quarter. IFP Advisors Inc now owns 790 shares of the basic materials company's stock worth $52,000 after purchasing an additional 424 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Scotts Miracle-Gro by 19.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 3,134 shares of the basic materials company's stock worth $208,000 after buying an additional 514 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Scotts Miracle-Gro during the 4th quarter worth about $2,139,000. Versor Investments LP increased its holdings in shares of Scotts Miracle-Gro by 34.4% in the 4th quarter. Versor Investments LP now owns 17,208 shares of the basic materials company's stock valued at $1,142,000 after acquiring an additional 4,408 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Scotts Miracle-Gro by 0.4% during the 4th quarter. US Bancorp DE now owns 42,303 shares of the basic materials company's stock worth $2,807,000 after acquiring an additional 154 shares in the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SMG shares. Stifel Nicolaus downgraded Scotts Miracle-Gro from a "buy" rating to a "hold" rating and upped their price target for the company from $70.00 to $71.00 in a report on Monday, June 9th. UBS Group reduced their price objective on shares of Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of 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 lifted their price target on shares of Scotts Miracle-Gro from $67.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Finally, Jefferies Financial Group raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and reduced their price target for the company from $72.00 to $69.00 in a research report on Monday, April 7th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $67.67.

Scotts Miracle-Gro Price Performance

Shares of SMG stock traded up $0.22 during trading hours on Monday, hitting $65.96. The stock had a trading volume of 806,316 shares, compared to its average volume of 962,277. The stock's 50 day moving average is $59.55 and its 200 day moving average is $61.69. The firm has a market capitalization of $3.81 billion, a PE ratio of 131.92 and a beta of 1.99. The Scotts Miracle-Gro Company has a twelve month low of $45.61 and a twelve month high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced 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 negative return on equity of 56.15% and a net margin of 1.04%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company earned $3.69 EPS. The firm's revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, equities analysts predict that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were given 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 4.00%. Scotts Miracle-Gro's 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.