SG Americas Securities LLC Takes Position in The Scotts Miracle-Gro Company (NYSE:SMG)

SG Americas Securities LLC bought a new stake in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,426 shares of the basic materials company's stock, valued at approximately $1,011,000.

Several other hedge funds and other institutional investors have also modified their holdings of SMG. US Bancorp DE lifted its holdings 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 valued at $2,807,000 after buying an additional 154 shares during the last quarter. Investment House LLC lifted its stake in Scotts Miracle-Gro by 0.3% in the fourth quarter. Investment House LLC now owns 61,190 shares of the basic materials company's stock valued at $4,059,000 after acquiring an additional 195 shares during the last quarter. Huntington National Bank grew its position in Scotts Miracle-Gro by 5.8% in the fourth quarter. Huntington National Bank now owns 3,664 shares of the basic materials company's stock worth $243,000 after acquiring an additional 200 shares in the last quarter. Tortoise Investment Management LLC increased its stake in shares of 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 purchasing an additional 225 shares during the last quarter. Finally, Commerce Bank increased its stake in shares of Scotts Miracle-Gro by 1.9% during the 4th quarter. Commerce Bank now owns 12,530 shares of the basic materials company's stock worth $831,000 after purchasing an additional 239 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company's stock.

Scotts Miracle-Gro Price Performance

SMG traded up $0.32 during trading on Wednesday, reaching $60.88. The company had a trading volume of 622,819 shares, compared to its average volume of 1,155,361. The business's fifty day moving average price is $57.35 and its 200 day moving average price is $62.50. The company has a market cap of $3.51 billion, a P/E ratio of 121.77 and a beta of 1.99. The Scotts Miracle-Gro Company has a 12 month low of $45.61 and a 12 month high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $3.98 EPS for the quarter, topping the consensus estimate of $3.95 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.50 billion. Scotts Miracle-Gro had a net margin of 1.04% and a negative return on equity of 56.15%. The company's revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.69 EPS. As a group, sell-side analysts predict that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.64 dividend on an annualized basis and a yield of 4.34%. Scotts Miracle-Gro's dividend payout ratio (DPR) is 528.00%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SMG. Truist Financial boosted their target price on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. 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 report on Monday, April 7th. Stifel Nicolaus downgraded shares of Scotts Miracle-Gro from a "buy" rating to a "hold" rating and boosted their price objective for the stock from $70.00 to $71.00 in a report on Monday, June 9th. UBS Group reduced their target price on shares of Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Wells Fargo & Company lifted their target price on Scotts Miracle-Gro from $67.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.67.

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.