The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by Teza Capital Management LLC

Teza Capital Management LLC decreased its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 60.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,904 shares of the basic materials company's stock after selling 22,707 shares during the quarter. Teza Capital Management LLC's holdings in Scotts Miracle-Gro were worth $989,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Atala Financial Inc purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at $26,000. Tortoise Investment Management LLC raised its holdings in shares of Scotts Miracle-Gro by 77.3% in the 4th quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock valued at $34,000 after buying an additional 225 shares during the period. Blue Trust Inc. lifted its stake in Scotts Miracle-Gro by 68.3% during the 4th quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock worth $41,000 after acquiring an additional 252 shares in the last quarter. Finally, Frazier Financial Advisors LLC purchased a new position in Scotts Miracle-Gro during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 74.07% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Jefferies Financial Group upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and cut their price target for the stock from $72.00 to $69.00 in a research note on Monday, April 7th. UBS Group decreased their price target on shares of Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Truist Financial upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price objective on the stock in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company boosted their target price on Scotts Miracle-Gro from $65.00 to $67.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Scotts Miracle-Gro has a consensus rating of "Moderate Buy" and an average price target of $65.83.

Scotts Miracle-Gro Price Performance

Shares of SMG traded up $0.04 during midday trading on Thursday, reaching $60.85. The stock had a trading volume of 1,014,610 shares, compared to its average volume of 965,041. The company has a market cap of $3.51 billion, a price-to-earnings ratio of -126.76 and a beta of 1.98. The company's fifty day simple moving average is $55.14 and its two-hundred day simple moving average is $64.66. 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 posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share for the quarter, beating analysts' consensus estimates of $3.95 by $0.03. The company had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.50 billion. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. Scotts Miracle-Gro's quarterly revenue was down 6.8% on a year-over-year basis. During the same period last year, the firm earned $3.69 earnings per share. On average, sell-side analysts forecast that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a $0.66 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.64 annualized dividend and a yield of 4.34%. Scotts Miracle-Gro's dividend payout ratio is currently 528.00%.

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.