Y Intercept Hong Kong Ltd Makes New $476,000 Investment in The Scotts Miracle-Gro Company (NYSE:SMG)

Key Points

• Y Intercept Hong Kong Ltd has made a new investment of approximately $476,000 in The Scotts Miracle-Gro Company by acquiring 8,681 shares during the first quarter.
• Several institutional investors, including American Century Companies Inc. and Norges Bank, have significantly increased their stakes in Scotts Miracle-Gro, indicating strong institutional interest.
• Analysts have mixed opinions on Scotts Miracle-Gro stock, with a current average rating of "Moderate Buy" and an average target price of $71.83, reflecting variability in investor sentiment.

Y Intercept Hong Kong Ltd acquired a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,681 shares of the basic materials company's stock, valued at approximately $476,000.

Other large investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. raised its stake in shares of Scotts Miracle-Gro by 21.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 3,819 shares of the basic materials company's stock worth $210,000 after purchasing an additional 685 shares during the period. GAMMA Investing LLC increased its holdings in Scotts Miracle-Gro by 31.6% in the 1st quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company's stock worth $89,000 after acquiring an additional 388 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in Scotts Miracle-Gro in the 1st quarter worth about $226,000. Norges Bank purchased a new stake in Scotts Miracle-Gro in the 4th quarter worth about $9,684,000. Finally, SG Americas Securities LLC purchased a new position in Scotts Miracle-Gro during the 1st quarter valued at about $1,011,000. Institutional investors and hedge funds own 74.07% of the company's stock.

Scotts Miracle-Gro Stock Performance

SMG traded down $0.20 during trading on Monday, reaching $69.19. The company's stock had a trading volume of 821,213 shares, compared to its average volume of 622,654. The company's fifty day moving average price is $64.65 and its 200-day moving average price is $61.83. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 138.38 and a beta of 2.01. 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 data on Wednesday, April 30th. The basic materials company reported $3.98 EPS for the quarter, topping analysts' consensus estimates of $3.95 by $0.03. Scotts Miracle-Gro had a negative return on equity of 56.15% and a net margin of 1.04%. The business 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 posted $3.69 EPS. The business's revenue for the quarter was down 6.8% on a year-over-year basis. Equities analysts predict that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Jefferies Financial Group upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and dropped their price target for the company from $72.00 to $69.00 in a research report on Monday, April 7th. Stifel Nicolaus downgraded Scotts Miracle-Gro from a "buy" rating to a "hold" rating and lifted their price target for the company from $70.00 to $71.00 in a research report on Monday, June 9th. Truist Financial set a $80.00 target price on Scotts Miracle-Gro and gave the stock a "buy" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. dropped their target price on 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. Finally, Wells Fargo & Company boosted their price objective on Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Scotts Miracle-Gro has a consensus rating of "Moderate Buy" and an average price target of $71.83.

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.