Teacher Retirement System of Texas Has $346,000 Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Teacher Retirement System of Texas lowered its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 92.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 6,295 shares of the basic materials company's stock after selling 75,517 shares during the quarter. Teacher Retirement System of Texas' holdings in Scotts Miracle-Gro were worth $346,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank increased its stake in Scotts Miracle-Gro by 0.8% during the 4th quarter. Swiss National Bank now owns 83,900 shares of the basic materials company's stock worth $5,566,000 after buying an additional 700 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in Scotts Miracle-Gro during the fourth quarter worth $6,399,000. Xponance Inc. lifted its stake in Scotts Miracle-Gro by 5.5% during the fourth quarter. Xponance Inc. now owns 4,849 shares of the basic materials company's stock worth $322,000 after purchasing an additional 252 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Scotts Miracle-Gro by 534.3% in the fourth quarter. American Century Companies Inc. now owns 42,424 shares of the basic materials company's stock valued at $2,814,000 after acquiring an additional 35,736 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Scotts Miracle-Gro during the 4th quarter worth $590,000. Institutional investors and hedge funds own 74.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SMG. Jefferies Financial Group upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and cut their price target for the company from $72.00 to $69.00 in a research note on Monday, April 7th. Truist Financial set a $80.00 price objective on shares of Scotts Miracle-Gro and gave the company a "buy" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. reduced their price target on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus downgraded Scotts Miracle-Gro from a "buy" rating to a "hold" rating and lifted their price objective for the stock from $70.00 to $71.00 in a research report on Monday, June 9th. Finally, UBS Group upped their price target on shares of Scotts Miracle-Gro from $54.00 to $71.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.83.

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock traded up $1.86 on Tuesday, hitting $68.73. The company had a trading volume of 842,993 shares, compared to its average volume of 951,697. The company has a market cap of $3.97 billion, a PE ratio of 137.46 and a beta of 2.01. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $93.90. The business has a 50-day simple moving average of $63.62 and a 200-day simple moving average of $61.76.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced 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. Scotts Miracle-Gro had a net margin of 1.04% and a negative return on equity of 56.15%. 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 prior year, the business posted $3.69 EPS. Scotts Miracle-Gro's quarterly revenue was down 6.8% on a year-over-year basis. On average, equities research analysts predict that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

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.