Compass Wealth Management LLC Purchases 4,000 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Compass Wealth Management LLC grew its holdings in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,123 shares of the basic materials company's stock after purchasing an additional 4,000 shares during the quarter. Compass Wealth Management LLC owned about 0.13% of Scotts Miracle-Gro worth $4,069,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of SMG. Atala Financial Inc acquired a new position in Scotts Miracle-Gro in the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Scotts Miracle-Gro during the fourth quarter valued at $26,000. Spire Wealth Management lifted its stake 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 valued at $30,000 after acquiring an additional 454 shares during the period. UMB Bank n.a. lifted its stake 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 valued at $31,000 after acquiring an additional 465 shares during the period. Finally, Tortoise Investment Management LLC lifted its stake in shares of Scotts Miracle-Gro by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 225 shares during the period. Institutional investors and hedge funds own 74.07% of the company's stock.

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock traded up $0.92 during trading hours on Tuesday, hitting $69.06. The company's stock had a trading volume of 227,531 shares, compared to its average volume of 959,432. The Scotts Miracle-Gro Company has a 12 month low of $45.61 and a 12 month high of $93.90. The stock has a 50 day moving average of $61.04 and a 200 day moving average of $61.63. The company has a market capitalization of $3.99 billion, a PE ratio of 138.12 and a beta of 2.01.

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, topping the consensus estimate 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 company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $3.69 earnings per share. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. Equities analysts expect 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 was paid on Friday, June 6th. Investors of record on Friday, May 23rd were issued a dividend of $0.66 per share. The ex-dividend date was Friday, May 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.82%. Scotts Miracle-Gro's payout ratio is presently 528.00%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SMG. Wells Fargo & Company upped their price target on Scotts Miracle-Gro from $67.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. UBS Group cut their price target on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their target price 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. Stifel Nicolaus lowered 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 note on Monday, June 9th. Finally, Truist Financial increased their target price on Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a "buy" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Scotts Miracle-Gro has a consensus rating of "Moderate Buy" and an average target price of $67.67.

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.