The Scotts Miracle-Gro Company (NYSE:SMG) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 7,126.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 88,592 shares of the basic materials company's stock after purchasing an additional 87,366 shares during the period. GAMMA Investing LLC owned about 0.15% of Scotts Miracle-Gro worth $4,863,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Atala Financial Inc acquired a new stake in Scotts Miracle-Gro during the 4th quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in Scotts Miracle-Gro during the 4th quarter worth $26,000. Tortoise Investment Management LLC raised its stake in Scotts Miracle-Gro by 77.3% during the 4th quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock worth $34,000 after acquiring an additional 225 shares in the last quarter. Frazier Financial Advisors LLC acquired a new stake in Scotts Miracle-Gro during the 4th quarter worth $45,000. Finally, IFP Advisors Inc raised its stake in 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 acquiring an additional 424 shares in the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Scotts Miracle-Gro Trading Down 4.1%

Shares of NYSE:SMG traded down $2.61 during midday trading on Friday, hitting $61.13. The stock had a trading volume of 773,388 shares, compared to its average volume of 978,576. The company has a market capitalization of $3.53 billion, a PE ratio of -127.35 and a beta of 1.99. The stock has a 50 day moving average price of $56.91 and a two-hundred day moving average price of $62.80. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share for the quarter, beating the consensus estimate of $3.95 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.50 billion. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. The business's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.69 earnings per share. As a group, equities analysts expect that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Friday, May 23rd. Scotts Miracle-Gro's payout ratio is 528.00%.

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.