The Scotts Miracle-Gro Company (NYSE:SMG) Holdings Lowered by Tidal Investments LLC

Tidal Investments LLC cut its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,837 shares of the basic materials company's stock after selling 4,927 shares during the quarter. Tidal Investments LLC owned 0.07% of Scotts Miracle-Gro worth $2,842,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SMG. Park Avenue Securities LLC raised its position in Scotts Miracle-Gro by 28.0% in the fourth quarter. Park Avenue Securities LLC now owns 8,839 shares of the basic materials company's stock worth $586,000 after acquiring an additional 1,934 shares in the last quarter. Ameritas Advisory Services LLC increased its position in Scotts Miracle-Gro by 7.9% during the 4th quarter. Ameritas Advisory Services LLC now owns 15,704 shares of the basic materials company's stock worth $1,042,000 after purchasing an additional 1,155 shares in the last quarter. Compass Wealth Management LLC increased its position in Scotts Miracle-Gro by 3.7% during the 4th quarter. Compass Wealth Management LLC now owns 70,123 shares of the basic materials company's stock worth $4,652,000 after purchasing an additional 2,497 shares in the last quarter. PFG Investments LLC boosted its stake in 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 worth $214,000 after buying an additional 141 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Scotts Miracle-Gro by 68.3% in the 4th quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock worth $41,000 after buying an additional 252 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group raised 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. Wells Fargo & Company boosted 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. Stifel Nicolaus raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and cut their target price for the company from $78.00 to $70.00 in a research report on Tuesday, March 4th. Truist Financial raised 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. Finally, JPMorgan Chase & Co. lowered their price target on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.83.

Scotts Miracle-Gro Trading Up 2.5%

SMG traded up $1.46 during trading on Tuesday, reaching $60.88. 72,959 shares of the company were exchanged, compared to its average volume of 1,151,613. The stock has a market cap of $3.51 billion, a P/E ratio of -126.68 and a beta of 1.98. The firm has a 50 day moving average of $55.11 and a 200 day moving average of $63.99. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released 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 51.48% and a negative net margin of 0.67%. The company had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the prior year, the business posted $3.69 earnings per share. The company's revenue for the quarter was down 6.8% compared to the same quarter last year. As a group, 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be issued a $0.66 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.64 annualized dividend and a dividend yield of 4.34%. Scotts Miracle-Gro's dividend payout ratio (DPR) is 528.00%.

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.