The Scotts Miracle-Gro Company (NYSE:SMG) Stake Lowered by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 58.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 55,350 shares of the basic materials company's stock after selling 78,633 shares during the quarter. Gotham Asset Management LLC owned about 0.10% of Scotts Miracle-Gro worth $3,672,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter worth $39,986,000. Alyeska Investment Group L.P. purchased a new position in shares of Scotts Miracle-Gro in the 4th quarter worth $39,434,000. Schonfeld Strategic Advisors LLC increased its holdings in Scotts Miracle-Gro by 157.3% in 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 purchasing an additional 286,962 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Scotts Miracle-Gro by 1.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 258,825 shares of the basic materials company's stock valued at $17,170,000 after purchasing an additional 2,850 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in Scotts Miracle-Gro by 6.9% in the 4th quarter. New York State Common Retirement Fund now owns 218,541 shares of the basic materials company's stock valued at $14,498,000 after purchasing an additional 14,088 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company's stock.

Scotts Miracle-Gro Trading Up 2.2%

NYSE:SMG traded up $1.37 during midday trading on Friday, hitting $62.45. 870,849 shares of the stock were exchanged, compared to its average volume of 964,766. The Scotts Miracle-Gro Company has a one year low of $45.61 and a one year high of $93.90. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -130.10 and a beta of 1.98. The business has a 50-day moving average price of $55.05 and a two-hundred day moving average price of $65.04.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted 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. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.50 billion. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. The firm's quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.69 earnings per share. Sell-side analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS 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. Shareholders of record on Friday, May 23rd will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.23%. The ex-dividend date is Friday, May 23rd. Scotts Miracle-Gro's payout ratio is 528.00%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SMG shares. Jefferies Financial Group upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and lowered their target price for the company from $72.00 to $69.00 in a research note on Monday, April 7th. Wells Fargo & Company lifted their price target on Scotts Miracle-Gro from $65.00 to $67.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. UBS Group cut their target price on shares of Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. JPMorgan Chase & Co. cut their target price 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. Finally, Stifel Nicolaus raised shares of 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 report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Scotts Miracle-Gro currently has a consensus rating of "Moderate Buy" and an average price target 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.