62,220 Shares in The Scotts Miracle-Gro Company (NYSE:SMG) Purchased by Woodline Partners LP

Woodline Partners LP bought a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 62,220 shares of the basic materials company's stock, valued at approximately $4,128,000. Woodline Partners LP owned 0.11% of Scotts Miracle-Gro as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Point72 Asset Management L.P. purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at $53,453,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Scotts Miracle-Gro by 72.6% during the 4th 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. Raymond James Financial Inc. purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at $39,986,000. Alyeska Investment Group L.P. purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at $39,434,000. Finally, Schonfeld Strategic Advisors LLC grew its holdings in shares of Scotts Miracle-Gro by 157.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 469,336 shares of the basic materials company's stock valued at $31,136,000 after acquiring an additional 286,962 shares in the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Trading Down 3.1%

Scotts Miracle-Gro stock traded down $1.90 on Friday, reaching $59.01. 421,099 shares of the stock were exchanged, compared to its average volume of 961,245. The stock has a market cap of $3.41 billion, a PE ratio of -123.12 and a beta of 1.98. The Scotts Miracle-Gro Company has a twelve month low of $45.61 and a twelve month high of $93.90. The firm has a fifty day moving average price of $55.22 and a two-hundred day moving average price of $63.84.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings data 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 net margin of 0.67% and a negative return on equity of 51.48%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business earned $3.69 earnings per share. The firm's revenue for the quarter was down 6.8% on a year-over-year basis. Equities analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.47%. The ex-dividend date is Friday, May 23rd. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently 528.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SMG shares. Jefferies Financial Group upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and lowered their price target for the company from $72.00 to $69.00 in a report on Monday, April 7th. JPMorgan Chase & Co. lowered their price target on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. UBS Group decreased their price objective on shares of Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Truist Financial upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price objective for the company in a report on Wednesday, April 2nd. Finally, Stifel Nicolaus upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $78.00 to $70.00 in a report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro currently has a consensus rating of "Moderate Buy" and a consensus price target 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.