60,417 Shares in The Scotts Miracle-Gro Company (NYSE:SMG) Bought by Wellington Management Group LLP

Wellington Management Group LLP purchased a new stake in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 60,417 shares of the basic materials company's stock, valued at approximately $4,008,000. Wellington Management Group LLP owned about 0.11% of Scotts Miracle-Gro as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its position 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 during the period. Investment House LLC increased its stake in Scotts Miracle-Gro by 0.3% in the fourth quarter. Investment House LLC now owns 61,190 shares of the basic materials company's stock valued at $4,059,000 after purchasing an additional 195 shares in the last quarter. Huntington National Bank increased its stake in Scotts Miracle-Gro by 5.8% in the fourth quarter. Huntington National Bank now owns 3,664 shares of the basic materials company's stock valued at $243,000 after purchasing an additional 200 shares in the last quarter. Tortoise Investment Management LLC boosted its position in shares of Scotts Miracle-Gro by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock worth $34,000 after purchasing an additional 225 shares in the last quarter. Finally, Commerce Bank grew its holdings in shares of Scotts Miracle-Gro by 1.9% in the 4th quarter. Commerce Bank now owns 12,530 shares of the basic materials company's stock valued at $831,000 after buying an additional 239 shares during the period. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Stifel Nicolaus raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their target price for the company from $78.00 to $70.00 in a research note on Tuesday, March 4th. Wells Fargo & Company upped their target price on shares of Scotts Miracle-Gro from $67.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday. Truist Financial lifted their price objective on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a "buy" rating in a report on Friday. Jefferies Financial Group upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their target price for the stock from $72.00 to $69.00 in a report on Monday, April 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.50.

Scotts Miracle-Gro Stock Performance

Shares of NYSE SMG traded up $1.59 during trading hours on Friday, reaching $66.60. 1,685,715 shares of the stock were exchanged, compared to its average volume of 975,666. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of -138.75 and a beta of 1.99. The stock's fifty day simple moving average is $55.57 and its 200 day simple moving average is $63.35. 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 posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share for the quarter, topping the consensus estimate of $3.95 by $0.03. The firm had revenue of $1.42 billion for the quarter, compared to analysts' expectations 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 company's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.69 EPS. Research analysts predict that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed 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. This represents a $2.64 annualized dividend and a yield of 3.96%. The ex-dividend date is Friday, May 23rd. 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.