Hsbc Holdings PLC Sells 63,876 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Hsbc Holdings PLC trimmed its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 93.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,466 shares of the basic materials company's stock after selling 63,876 shares during the period. Hsbc Holdings PLC's holdings in Scotts Miracle-Gro were worth $291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SMG. Atala Financial Inc bought a new stake in Scotts Miracle-Gro in the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new stake in Scotts Miracle-Gro during the 4th quarter worth approximately $26,000. Tortoise Investment Management LLC increased its holdings in Scotts Miracle-Gro by 77.3% during the 4th 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. Blue Trust Inc. increased its holdings in 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Scotts Miracle-Gro during the 3rd quarter worth approximately $44,000. 74.07% of the stock is owned by institutional investors.

Insider Activity at Scotts Miracle-Gro

In other news, Director Brian E. Sandoval sold 1,513 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $65.86, for a total transaction of $99,646.18. Following the transaction, the director now directly owns 13,039 shares of the company's stock, valued at approximately $858,748.54. This trade represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 25.37% of the stock is owned by insiders.

Analysts Set New Price Targets

SMG has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on Scotts Miracle-Gro from $70.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Truist Financial raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 target price for the company in a report on Wednesday, April 2nd. Jefferies Financial Group raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and reduced their target price for the company from $72.00 to $69.00 in a report on Monday, April 7th. UBS Group reduced their target price on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.50.

Scotts Miracle-Gro Price Performance

Shares of NYSE:SMG traded up $3.02 during trading on Monday, hitting $57.01. 1,530,504 shares of the company were exchanged, compared to its average volume of 951,895. The Scotts Miracle-Gro Company has a 52-week low of $45.61 and a 52-week high of $93.90. The company has a market cap of $3.29 billion, a PE ratio of -118.76 and a beta of 1.98. The stock has a 50 day moving average of $55.18 and a 200 day moving average of $65.66.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business posted $3.69 earnings per share. The firm's revenue was down 6.8% compared to the same quarter last year. Sell-side analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.66 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.64 dividend on an annualized basis and a yield of 4.63%. Scotts Miracle-Gro's dividend payout ratio is presently 528.00%.

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.