Natixis Advisors LLC Sells 25,652 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Key Points

• Natixis Advisors LLC reduced its stake in The Scotts Miracle-Gro Company by 12.4% during the first quarter, holding approximately $9.97 million worth of stock.
• The company's recent quarterly earnings showed an EPS of $2.59, surpassing analysts' expectations, though revenue fell 1.2% year-over-year to $1.19 billion.
• Scotts Miracle-Gro announced a quarterly dividend of $0.66 per share, representing an annual yield of 4.2% and a payout ratio of 347.37%.

Natixis Advisors LLC lowered its holdings in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,578 shares of the basic materials company's stock after selling 25,652 shares during the period. Natixis Advisors LLC owned approximately 0.32% of Scotts Miracle-Gro worth $9,967,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at about $53,453,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Scotts Miracle-Gro by 72.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 628,414 shares of the basic materials company's stock valued at $41,689,000 after purchasing an additional 264,369 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at $39,986,000. Alyeska Investment Group L.P. bought a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at $39,434,000. Finally, Schonfeld Strategic Advisors LLC raised its position in Scotts Miracle-Gro by 157.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 469,336 shares of the basic materials company's stock worth $31,136,000 after purchasing an additional 286,962 shares during the period. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SMG shares. JPMorgan Chase & Co. decreased their price target on 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 raised their target price on Scotts Miracle-Gro from $72.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Truist Financial set a $80.00 price target on Scotts Miracle-Gro and gave the company a "buy" rating in a research report on Monday, July 14th. UBS Group set a $68.00 target price on Scotts Miracle-Gro and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus cut their price objective on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating on the stock in a report on Monday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.17.

Scotts Miracle-Gro Stock Down 1.7%

Shares of Scotts Miracle-Gro stock traded down $1.08 on Tuesday, reaching $61.44. The company's stock had a trading volume of 691,880 shares, compared to its average volume of 911,133. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 80.84 and a beta of 1.97. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $93.90. The firm's fifty day simple moving average is $64.92 and its two-hundred day simple moving average is $61.61.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.19 by $0.40. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.23 billion. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The business's quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 EPS. As a group, research analysts predict that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors 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 yield of 4.3%. The ex-dividend date is Friday, August 22nd. Scotts Miracle-Gro's dividend payout ratio is 347.37%.

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.