The Scotts Miracle-Gro Company (NYSE:SMG) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 23.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,436 shares of the basic materials company's stock after purchasing an additional 24,105 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.22% of Scotts Miracle-Gro worth $8,388,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in SMG. PFG Investments LLC lifted its stake in shares of Scotts Miracle-Gro by 4.6% during the 4th quarter. PFG Investments LLC now owns 3,226 shares of the basic materials company's stock worth $214,000 after purchasing an additional 141 shares during the period. Blue Trust Inc. lifted its stake in shares of Scotts Miracle-Gro by 68.3% during the 4th quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock worth $41,000 after purchasing an additional 252 shares during the period. KBC Group NV lifted its stake in shares of Scotts Miracle-Gro by 35.3% during the 4th quarter. KBC Group NV now owns 1,809 shares of the basic materials company's stock worth $120,000 after purchasing an additional 472 shares during the period. OLD National Bancorp IN lifted its stake in shares of Scotts Miracle-Gro by 7.9% during the 4th quarter. OLD National Bancorp IN now owns 5,447 shares of the basic materials company's stock worth $361,000 after purchasing an additional 398 shares during the period. Finally, Crews Bank & Trust purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter worth $77,000. Hedge funds and other institutional investors own 74.07% of the company's stock.

Scotts Miracle-Gro Price Performance

NYSE SMG traded up $0.98 during trading hours on Wednesday, hitting $58.60. The company had a trading volume of 1,017,368 shares, compared to its average volume of 967,158. The Scotts Miracle-Gro Company has a fifty-two week low of $45.61 and a fifty-two week high of $93.90. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of -122.08 and a beta of 1.99. The firm's 50 day moving average is $55.37 and its 200 day moving average is $63.41.

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, beating 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 firm 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 firm earned $3.69 EPS. The firm's quarterly revenue was down 6.8% compared to the same quarter last year. On average, equities analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.64 annualized dividend and a dividend yield of 4.51%. Scotts Miracle-Gro's dividend payout ratio is presently 528.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SMG shares. UBS Group reduced 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. Stifel Nicolaus raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and cut their target price for the stock from $78.00 to $70.00 in a research report on Tuesday, March 4th. Wells Fargo & Company increased their target price 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 target price on the stock in a research report on Wednesday, April 2nd. Finally, Jefferies Financial Group raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and cut their target price for the stock from $72.00 to $69.00 in a research report on Monday, April 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.83.

About Scotts Miracle-Gro

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.