International Assets Investment Management LLC Has $14.55 Million Position in The Scotts Miracle-Gro Company (NYSE:SMG)

International Assets Investment Management LLC increased its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 4,927.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 228,178 shares of the basic materials company's stock after purchasing an additional 223,639 shares during the period. International Assets Investment Management LLC owned about 0.40% of Scotts Miracle-Gro worth $14,546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Scotts Miracle-Gro by 151.4% during the fourth quarter. Nordea Investment Management AB now owns 194,791 shares of the basic materials company's stock valued at $12,576,000 after purchasing an additional 117,314 shares during the period. Brandes Investment Partners LP grew its position in Scotts Miracle-Gro by 126.7% in the third quarter. Brandes Investment Partners LP now owns 63,435 shares of the basic materials company's stock valued at $3,278,000 after acquiring an additional 35,456 shares during the period. FCF Advisors LLC bought a new stake in Scotts Miracle-Gro in the fourth quarter valued at $1,011,000. California Public Employees Retirement System grew its position in Scotts Miracle-Gro by 19.8% in the third quarter. California Public Employees Retirement System now owns 78,474 shares of the basic materials company's stock valued at $4,056,000 after acquiring an additional 12,969 shares during the period. Finally, Raymond James & Associates grew its position in Scotts Miracle-Gro by 6.5% in the third quarter. Raymond James & Associates now owns 590,658 shares of the basic materials company's stock valued at $30,525,000 after acquiring an additional 36,056 shares during the period. 74.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 86,356 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $65.41, for a total value of $5,648,545.96. Following the transaction, the director now owns 13,777,012 shares of the company's stock, valued at $901,154,354.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 86,356 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $65.41, for a total value of $5,648,545.96. Following the completion of the sale, the director now directly owns 13,777,012 shares in the company, valued at $901,154,354.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen L. Johnson sold 1,394 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $57.35, for a total value of $79,945.90. Following the completion of the sale, the director now owns 22,918 shares of the company's stock, valued at $1,314,347.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,750 shares of company stock valued at $6,604,492. 26.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Raymond James reiterated a "market perform" rating on shares of Scotts Miracle-Gro in a research report on Monday, March 25th. StockNews.com upgraded Scotts Miracle-Gro from a "sell" rating to a "hold" rating in a research report on Thursday, April 4th. Stifel Nicolaus upped their price target on Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a "hold" rating in a research report on Monday, March 4th. JPMorgan Chase & Co. upped their price target on Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, April 5th. Finally, Truist Financial cut Scotts Miracle-Gro from a "buy" rating to a "hold" rating and increased their target price for the stock from $65.00 to $75.00 in a report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Scotts Miracle-Gro has a consensus rating of "Hold" and an average target price of $70.00.

Scotts Miracle-Gro Price Performance

Shares of SMG stock traded down $2.40 during trading hours on Friday, hitting $69.43. 519,911 shares of the company's stock were exchanged, compared to its average volume of 766,091. The stock's 50-day moving average is $65.50 and its 200-day moving average is $58.97. The Scotts Miracle-Gro Company has a 52 week low of $43.67 and a 52 week high of $77.95.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The basic materials company reported ($1.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.62) by $0.17. Scotts Miracle-Gro had a negative return on equity of 44.37% and a negative net margin of 11.52%. The business had revenue of $410.40 million for the quarter, compared to analyst estimates of $412.83 million. During the same quarter in the prior year, the firm posted ($1.02) earnings per share. The firm's revenue for the quarter was down 22.1% compared to the same quarter last year. Equities research analysts expect that The Scotts Miracle-Gro Company will post 2.65 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.80%. The ex-dividend date was Thursday, February 22nd. Scotts Miracle-Gro's payout ratio is -37.50%.

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.