Schonfeld Strategic Advisors LLC Raises Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Schonfeld Strategic Advisors LLC grew its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 157.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 469,336 shares of the basic materials company's stock after buying an additional 286,962 shares during the period. Schonfeld Strategic Advisors LLC owned 0.82% of Scotts Miracle-Gro worth $31,136,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Scotts Miracle-Gro in the fourth quarter worth approximately $39,986,000. Gamco Investors INC. ET AL raised its holdings in shares of Scotts Miracle-Gro by 1.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 258,825 shares of the basic materials company's stock valued at $17,170,000 after acquiring an additional 2,850 shares in the last quarter. Nordea Investment Management AB raised its holdings in Scotts Miracle-Gro by 4.6% in the 4th quarter. Nordea Investment Management AB now owns 219,532 shares of the basic materials company's stock worth $14,439,000 after purchasing an additional 9,684 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Scotts Miracle-Gro by 6.9% in the fourth quarter. New York State Common Retirement Fund now owns 218,541 shares of the basic materials company's stock worth $14,498,000 after buying an additional 14,088 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Scotts Miracle-Gro by 62.4% during the fourth quarter. First Trust Advisors LP now owns 190,961 shares of the basic materials company's stock valued at $12,668,000 after purchasing an additional 73,339 shares in the last quarter. Institutional investors own 74.07% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SMG shares. JPMorgan Chase & Co. lowered their price target on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday. Wells Fargo & Company reduced their price target on Scotts Miracle-Gro from $70.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Truist Financial upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price target for the company in a research note on Wednesday, April 2nd. Jefferies Financial Group raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and lowered their target price for the stock from $72.00 to $69.00 in a report on Monday, April 7th. Finally, Stifel Nicolaus upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and cut their price target for the company from $78.00 to $70.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Scotts Miracle-Gro has a consensus rating of "Moderate Buy" and a consensus price target of $65.50.

Scotts Miracle-Gro Stock Performance

Scotts Miracle-Gro stock traded up $1.13 during mid-day trading on Friday, hitting $54.49. The company's stock had a trading volume of 1,620,843 shares, compared to its average volume of 941,334. The stock has a market cap of $3.13 billion, a PE ratio of -113.52 and a beta of 1.96. The company has a 50 day moving average of $55.79 and a 200-day moving average of $67.58. The Scotts Miracle-Gro Company has a one year low of $45.61 and a one year high of $93.90.

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 EPS for the quarter, beating the consensus estimate of $3.95 by $0.03. The business had revenue of $1.42 billion during 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 company'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 EPS. On average, equities research analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Friday, May 23rd. Scotts Miracle-Gro's payout ratio is -550.00%.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, Director Brian E. Sandoval sold 1,513 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $65.86, for a total value of $99,646.18. Following the completion of the transaction, the director now directly owns 13,039 shares in the company, valued at approximately $858,748.54. This represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hagedorn Partnership, L.P. sold 12,123 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $66.86, for a total transaction of $810,543.78. Following the completion of the sale, the director now owns 13,432,151 shares in the company, valued at approximately $898,073,615.86. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 25.37% of the company's stock.

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.