The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 70.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,144 shares of the basic materials company's stock after selling 14,557 shares during the period. Edgestream Partners L.P.'s holdings in Scotts Miracle-Gro were worth $337,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Spire Wealth Management lifted its holdings in shares of Scotts Miracle-Gro by 477.9% during the first quarter. Spire Wealth Management now owns 549 shares of the basic materials company's stock worth $30,000 after purchasing an additional 454 shares during the period. UMB Bank n.a. increased its position in shares of Scotts Miracle-Gro by 479.4% during the first quarter. UMB Bank n.a. now owns 562 shares of the basic materials company's stock worth $31,000 after acquiring an additional 465 shares in the last quarter. Frazier Financial Advisors LLC bought a new stake in Scotts Miracle-Gro in the 4th quarter worth about $45,000. Brown Brothers Harriman & Co. grew its position in Scotts Miracle-Gro by 733.0% in the 4th quarter. Brown Brothers Harriman & Co. now owns 883 shares of the basic materials company's stock worth $59,000 after purchasing an additional 777 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Scotts Miracle-Gro in the fourth quarter valued at about $73,000. Institutional investors own 74.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Jefferies Financial Group raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and lowered their target price for the stock from $72.00 to $69.00 in a report on Monday, April 7th. JPMorgan Chase & Co. dropped 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 note on Thursday, May 1st. Stifel Nicolaus downgraded shares of Scotts Miracle-Gro from a "buy" rating to a "hold" rating and increased their target price for the company from $70.00 to $71.00 in a research report on Monday, June 9th. Truist Financial raised their price objective on shares of Scotts Miracle-Gro from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company boosted their target price on shares of Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $71.83.

Scotts Miracle-Gro Trading Up 2.8%

NYSE:SMG traded up $1.86 during trading hours on Tuesday, reaching $68.73. 842,991 shares of the company traded hands, compared to its average volume of 950,470. The stock has a market capitalization of $3.97 billion, a P/E ratio of 137.46 and a beta of 2.01. The business's 50-day moving average price is $63.62 and its two-hundred day moving average price is $61.76. 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 announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.95 by $0.03. Scotts Miracle-Gro had a negative return on equity of 56.15% and a net margin of 1.04%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $3.69 EPS. The business's revenue was down 6.8% compared to the same quarter last year. As a group, equities analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current 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.