MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 4,070 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its stake in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 5.5% during the fourth quarter, according to its most recent 13F filing with the 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 0.12% of Scotts Miracle-Gro worth $4,600,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. PFG Investments LLC raised its stake in shares of Scotts Miracle-Gro by 4.6% in the 4th quarter. PFG Investments LLC now owns 3,226 shares of the basic materials company's stock valued at $214,000 after acquiring an additional 141 shares in the last quarter. US Bancorp DE raised its stake in shares of Scotts Miracle-Gro by 0.4% in the 4th quarter. US Bancorp DE now owns 42,303 shares of the basic materials company's stock valued at $2,807,000 after acquiring an additional 154 shares in the last quarter. Investment House LLC raised its stake in shares of Scotts Miracle-Gro by 0.3% in the 4th quarter. Investment House LLC now owns 61,190 shares of the basic materials company's stock valued at $4,059,000 after acquiring an additional 195 shares in the last quarter. Huntington National Bank raised its stake in shares of Scotts Miracle-Gro by 5.8% in the 4th quarter. Huntington National Bank now owns 3,664 shares of the basic materials company's stock valued at $243,000 after acquiring an additional 200 shares in the last quarter. Finally, Tortoise Investment Management LLC raised its stake 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 acquiring an additional 225 shares in the last quarter. 74.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Stifel Nicolaus raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and cut their price objective for the company from $78.00 to $70.00 in a research note on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price target 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. 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 report on Tuesday, May 13th. Truist Financial raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price target on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group dropped their price target on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Scotts Miracle-Gro currently has an average rating of "Moderate Buy" and an average price target of $65.83.

Scotts Miracle-Gro Stock Performance

Shares of NYSE:SMG traded down $1.43 during trading on Friday, hitting $59.40. 657,913 shares of the stock were exchanged, compared to its average volume of 964,757. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of -123.75 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. The company's fifty day simple moving average is $55.12 and its 200-day simple moving average is $64.14.

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, topping analysts' consensus estimates of $3.95 by $0.03. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $3.69 earnings per share. The business's revenue was down 6.8% compared to the same quarter last year. On average, research analysts forecast that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Friday, May 23rd. Scotts Miracle-Gro's dividend payout ratio is 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.