The Scotts Miracle-Gro Company (NYSE:SMG) Shares Bought by Millennium Management LLC

Millennium Management LLC lifted its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 87.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 365,548 shares of the basic materials company's stock after buying an additional 171,034 shares during the period. Millennium Management LLC owned about 0.64% of Scotts Miracle-Gro worth $24,250,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Atala Financial Inc purchased 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 4th quarter worth $26,000. Tortoise Investment Management LLC increased 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 purchasing an additional 225 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Scotts Miracle-Gro by 68.3% in the fourth quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 252 shares during the period. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at about $45,000. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Stock Performance

SMG stock opened at $62.83 on Tuesday. The stock's 50 day moving average price is $55.07 and its 200 day moving average price is $64.70. The firm has a market cap of $3.63 billion, a P/E ratio of -130.89 and a beta of 1.98. 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 issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.03. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.50 billion. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. The business's revenue was down 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $3.69 earnings per share. On average, research analysts predict that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.66 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.20%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently 528.00%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SMG. Truist Financial upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 target price on the stock in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their price target on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their price objective for the company from $72.00 to $69.00 in a research note on Monday, April 7th. UBS Group lowered their target price on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, Stifel Nicolaus upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their price target for the company from $78.00 to $70.00 in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro currently has an average rating of "Moderate Buy" and a consensus target price of $65.83.

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.

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