The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,333 shares of the basic materials company's stock after selling 4,070 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.12% of Scotts Miracle-Gro worth $4,600,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. LRI Investments LLC grew its stake in shares of Scotts Miracle-Gro by 75.7% during the fourth quarter. LRI Investments LLC now owns 3,409 shares of the basic materials company's stock valued at $226,000 after acquiring an additional 1,469 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Scotts Miracle-Gro by 72.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 628,414 shares of the basic materials company's stock valued at $41,689,000 after acquiring an additional 264,369 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Scotts Miracle-Gro during the fourth quarter valued at about $659,000. Ethic Inc. acquired a new position in Scotts Miracle-Gro in the fourth quarter worth about $535,000. Finally, Deutsche Bank AG grew its stake in Scotts Miracle-Gro by 4,242.3% in the fourth quarter. Deutsche Bank AG now owns 133,570 shares of the basic materials company's stock worth $8,861,000 after purchasing an additional 130,494 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Scotts Miracle-Gro Stock Up 2.2%

Shares of SMG stock opened at $62.45 on Monday. The business has a 50 day moving average of $55.05 and a two-hundred day moving average of $64.89. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $93.90. The company has a market cap of $3.60 billion, a P/E ratio of -130.10 and a beta of 1.98.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $3.98 EPS for the quarter, beating analysts' consensus estimates of $3.95 by $0.03. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. 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 previous year, the firm posted $3.69 earnings per share. Scotts Miracle-Gro's quarterly revenue was down 6.8% compared to the same quarter last year. Analysts expect that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 4.23%. Scotts Miracle-Gro's payout ratio is currently 528.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SMG shares. JPMorgan Chase & Co. decreased their price target on 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. Wells Fargo & Company lifted their price target 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. Jefferies Financial Group upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their price target for the stock from $72.00 to $69.00 in a research note on Monday, April 7th. Stifel Nicolaus upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their price target for the stock from $78.00 to $70.00 in a research note on Tuesday, March 4th. Finally, Truist Financial upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price target for the company in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $65.83.

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.

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