Fox Run Management L.L.C. Has $2.08 Million Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Key Points

• Fox Run Management L.L.C. increased its stake in The Scotts Miracle-Gro Company by 413.5%, owning 37,922 shares worth approximately $2.08 million.
• Scotts Miracle-Gro reported a quarterly EPS of $2.59, exceeding analyst expectations by $0.40, while revenue decreased by 1.2% year-over-year.
• The company announced a quarterly dividend of $0.66 per share, representing an annualized yield of 4.1%, but has a high dividend payout ratio of 347.37%.

Fox Run Management L.L.C. lifted its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 413.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,922 shares of the basic materials company's stock after acquiring an additional 30,537 shares during the quarter. Scotts Miracle-Gro makes up 0.3% of Fox Run Management L.L.C.'s holdings, making the stock its 26th biggest holding. Fox Run Management L.L.C. owned about 0.07% of Scotts Miracle-Gro worth $2,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vestmark Advisory Solutions Inc. boosted its position in Scotts Miracle-Gro by 154.7% in the first quarter. Vestmark Advisory Solutions Inc. now owns 82,970 shares of the basic materials company's stock worth $4,554,000 after purchasing an additional 50,394 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Scotts Miracle-Gro by 1,320.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,543 shares of the basic materials company's stock worth $140,000 after buying an additional 2,364 shares during the period. LGT Group Foundation purchased a new position in shares of Scotts Miracle-Gro in the 1st quarter valued at approximately $668,000. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in Scotts Miracle-Gro during the first quarter valued at $274,000. Finally, Nuveen LLC bought a new stake in shares of Scotts Miracle-Gro in the 1st quarter worth $5,475,000. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Price Performance

SMG stock opened at $63.71 on Thursday. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 83.82 and a beta of 1.97. The company has a fifty day moving average price of $65.13 and a two-hundred day moving average price of $61.21. The Scotts Miracle-Gro Company has a one year low of $45.61 and a one year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its earnings results on Wednesday, July 30th. The basic materials company reported $2.59 EPS for the quarter, topping 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 company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the business posted $2.31 EPS. The business's revenue for the quarter was down 1.2% compared to the same quarter last year. Research analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, August 22nd. Scotts Miracle-Gro's dividend payout ratio is currently 347.37%.

Wall Street Analyst Weigh In

Several analysts have issued reports on SMG shares. UBS Group set a $68.00 price target on Scotts Miracle-Gro and gave the company a "neutral" rating in a report on Thursday, July 31st. Wells Fargo & Company increased their target price on Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Truist Financial set a $80.00 target price on Scotts Miracle-Gro and gave the stock a "buy" rating in a research note on Monday, July 14th. Wall Street Zen upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Stifel Nicolaus decreased their target price on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating on the stock in a research note on Monday, August 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.17.

Insider Activity at Scotts Miracle-Gro

In related news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $62.28, for a total value of $4,359,600.00. Following the completion of the sale, the director directly owned 13,274,274 shares in the company, valued at $826,721,784.72. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 25.37% of the company's stock.

About Scotts Miracle-Gro

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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