The Scotts Miracle-Gro Company (NYSE:SMG) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG lifted its holdings in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 4,242.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,570 shares of the basic materials company's stock after purchasing an additional 130,494 shares during the quarter. Deutsche Bank AG owned about 0.23% of Scotts Miracle-Gro worth $8,861,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SMG. Atala Financial Inc acquired a new stake in Scotts Miracle-Gro during the 4th quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in Scotts Miracle-Gro during the 4th quarter worth about $26,000. Tortoise Investment Management LLC lifted its position 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 acquiring an additional 225 shares during the period. Blue Trust Inc. lifted its position 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 acquiring an additional 252 shares during the period. Finally, Frazier Financial Advisors LLC acquired a new stake in Scotts Miracle-Gro during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 74.07% of the company's stock.

Scotts Miracle-Gro Stock Up 2.2%

Shares of Scotts Miracle-Gro stock opened at $62.45 on Friday. The Scotts Miracle-Gro Company has a twelve month low of $45.61 and a twelve month high of $93.90. The business has a 50-day moving average price of $55.05 and a 200 day moving average price of $65.20. The firm has a market cap of $3.60 billion, a PE ratio of -130.10 and a beta of 1.98.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business earned $3.69 EPS. Scotts Miracle-Gro's revenue for the quarter was down 6.8% compared to the same quarter last year. On average, sell-side analysts expect that The Scotts Miracle-Gro Company will post 3.42 EPS for the current 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 paid a dividend of $0.66 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.64 annualized dividend and a yield of 4.23%. Scotts Miracle-Gro's dividend payout ratio (DPR) is currently 528.00%.

Analysts Set New Price Targets

A number of analysts have commented on SMG shares. Stifel Nicolaus raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and lowered their price target for the stock from $78.00 to $70.00 in a research report on Tuesday, March 4th. 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 report on Tuesday. UBS Group lowered their price target on Scotts Miracle-Gro from $55.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Truist Financial raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price target for the company in a research report on Wednesday, April 2nd. Finally, Jefferies Financial Group upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and reduced their price objective for the company from $72.00 to $69.00 in a research note on Monday, April 7th. 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $65.83.

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.

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