Ameriprise Financial Inc. Has $5.77 Million Stake in The Scotts Miracle-Gro Company (NYSE:SMG)

Ameriprise Financial Inc. increased its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 0.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 86,929 shares of the basic materials company’s stock after purchasing an additional 415 shares during the period. Ameriprise Financial Inc. owned about 0.15% of Scotts Miracle-Gro worth $5,767,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Atala Financial Inc acquired a new position in Scotts Miracle-Gro in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Scotts Miracle-Gro during the 4th quarter valued at $26,000. Tortoise Investment Management LLC boosted its stake in shares of 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 valued at $34,000 after buying an additional 225 shares during the period. Blue Trust Inc. boosted its stake in shares of Scotts Miracle-Gro by 68.3% during the 4th quarter. Blue Trust Inc. now owns 621 shares of the basic materials company’s stock valued at $41,000 after buying an additional 252 shares during the period. Finally, Frazier Financial Advisors LLC acquired a new stake in shares of Scotts Miracle-Gro during the 4th quarter valued at $45,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SMG. Truist Financial raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Wednesday, April 2nd. Wells Fargo & Company lifted their target price on shares of Scotts Miracle-Gro from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Stifel Nicolaus raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and decreased their target price for the company from $78.00 to $70.00 in a research note on Tuesday, March 4th. UBS Group decreased their target price on shares of Scotts Miracle-Gro from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Finally, Jefferies Financial Group raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and decreased their target price for the company from $72.00 to $69.00 in a research note on Monday, April 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Scotts Miracle-Gro has a consensus rating of “Moderate Buy” and a consensus target price of $65.83.

Scotts Miracle-Gro Trading Down 2.4%

SMG stock opened at $59.40 on Friday. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $93.90. The company has a fifty day simple moving average of $55.12 and a 200 day simple moving average of $64.21. The firm has a market cap of $3.43 billion, a PE ratio of -123.75 and a beta of 1.98.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.03. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. The business 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 quarterly revenue was down 6.8% compared to the same quarter last year. As a group, analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be issued a $0.66 dividend. The ex-dividend date is Friday, May 23rd. This represents a $2.64 annualized dividend and a yield of 4.44%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 528.00%.

About Scotts Miracle-Gro

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.