Vident Investment Advisory LLC lessened its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG – Get Rating) by 5.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 37,771 shares of the basic materials company’s stock after selling 2,340 shares during the quarter. Vident Investment Advisory LLC owned about 0.07% of Scotts Miracle-Gro worth $4,645,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Scotts Miracle-Gro by 3.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,942,266 shares of the basic materials company’s stock valued at $795,708,000 after buying an additional 182,828 shares during the period. Vanguard Group Inc. raised its position in Scotts Miracle-Gro by 0.3% in the first quarter. Vanguard Group Inc. now owns 4,159,852 shares of the basic materials company’s stock valued at $511,495,000 after purchasing an additional 14,104 shares during the period. BlackRock Inc. raised its position in Scotts Miracle-Gro by 1.2% in the first quarter. BlackRock Inc. now owns 3,546,641 shares of the basic materials company’s stock valued at $436,095,000 after purchasing an additional 42,423 shares during the period. First Eagle Investment Management LLC raised its position in Scotts Miracle-Gro by 49.1% in the first quarter. First Eagle Investment Management LLC now owns 1,756,020 shares of the basic materials company’s stock valued at $215,920,000 after purchasing an additional 578,316 shares during the period. Finally, Northern Trust Corp raised its position in Scotts Miracle-Gro by 8.2% in the first quarter. Northern Trust Corp now owns 727,489 shares of the basic materials company’s stock valued at $89,454,000 after purchasing an additional 55,352 shares during the period. Hedge funds and other institutional investors own 66.81% of the company’s stock.
Analysts Set New Price Targets
SMG has been the topic of a number of research analyst reports. TheStreet lowered Scotts Miracle-Gro from a “c” rating to a “d+” rating in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. lowered Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and cut their target price for the company from $130.00 to $95.00 in a research report on Thursday, June 9th. Truist Financial lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating and cut their target price for the company from $185.00 to $85.00 in a research report on Wednesday, June 8th. StockNews.com downgraded shares of Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Saturday, May 21st. Finally, Wells Fargo & Company dropped their price target on shares of Scotts Miracle-Gro from $85.00 to $75.00 and set an “equal weight” rating for the company in a research note on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.00.
Scotts Miracle-Gro Trading Up 0.2 %
Scotts Miracle-Gro (NYSE:SMG – Get Rating) last issued its earnings results on Wednesday, August 3rd. The basic materials company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.28. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. Scotts Miracle-Gro had a negative net margin of 6.36% and a positive return on equity of 36.80%. The company’s revenue was down 26.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.98 earnings per share. As a group, sell-side analysts expect that The Scotts Miracle-Gro Company will post 4.11 earnings per share for the current year.
Scotts Miracle-Gro Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 26th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.56%. Scotts Miracle-Gro’s payout ratio is currently -54.66%.
Scotts Miracle-Gro Profile
The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.
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