Fidelis Capital Partners LLC Makes New Investment in The Scotts Miracle-Gro Company (NYSE:SMG)

Fidelis Capital Partners LLC purchased a new stake in The Scotts Miracle-Gro Company (NYSE:SMGFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,168 shares of the basic materials company’s stock, valued at approximately $87,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina boosted its holdings in Scotts Miracle-Gro by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 18,313 shares of the basic materials company’s stock worth $1,167,000 after purchasing an additional 180 shares in the last quarter. Rise Advisors LLC boosted its position in Scotts Miracle-Gro by 135.2% during the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 192 shares during the period. Avitas Wealth Management LLC grew its holdings in Scotts Miracle-Gro by 1.1% during the first quarter. Avitas Wealth Management LLC now owns 21,337 shares of the basic materials company’s stock valued at $1,592,000 after purchasing an additional 240 shares during the last quarter. Pinnacle Associates Ltd. grew its stake in Scotts Miracle-Gro by 3.7% in the 4th quarter. Pinnacle Associates Ltd. now owns 7,000 shares of the basic materials company’s stock valued at $446,000 after buying an additional 250 shares during the last quarter. Finally, State of Michigan Retirement System lifted its position in Scotts Miracle-Gro by 3.0% during the 1st quarter. State of Michigan Retirement System now owns 10,300 shares of the basic materials company’s stock worth $768,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Down 0.8 %

Shares of SMG opened at $62.21 on Tuesday. The Scotts Miracle-Gro Company has a 12 month low of $43.67 and a 12 month high of $77.95. The company has a 50-day moving average price of $66.72 and a two-hundred day moving average price of $65.13. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -9.97 and a beta of 1.76.

Scotts Miracle-Gro (NYSE:SMGGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.36. Scotts Miracle-Gro had a negative return on equity of 20.97% and a negative net margin of 10.14%. The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $3.78 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts expect that The Scotts Miracle-Gro Company will post 2.55 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend was Thursday, May 23rd. Scotts Miracle-Gro’s payout ratio is -42.31%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. StockNews.com raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. upped their target price on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Truist Financial downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $65.00 to $75.00 in a report on Friday, April 5th. Wells Fargo & Company reduced their target price on shares of Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, Raymond James restated a “market perform” rating on shares of Scotts Miracle-Gro in a research note on Monday, March 25th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro presently has an average rating of “Hold” and a consensus target price of $73.00.

Get Our Latest Research Report on Scotts Miracle-Gro

Insider Activity

In related news, Director Hagedorn Partnership, L.P. sold 31,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $69.67, for a total transaction of $2,159,770.00. Following the sale, the director now directly owns 13,746,012 shares in the company, valued at approximately $957,684,656.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 26.46% of the stock is currently owned by corporate insiders.

About Scotts Miracle-Gro

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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