UMB Bank n.a. Purchases 465 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

UMB Bank n.a. grew its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 479.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 562 shares of the basic materials company’s stock after purchasing an additional 465 shares during the period. UMB Bank n.a.’s holdings in Scotts Miracle-Gro were worth $31,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SMG. Oppenheimer & Co. Inc. raised its holdings in Scotts Miracle-Gro by 19.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 3,134 shares of the basic materials company’s stock worth $208,000 after acquiring an additional 514 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Scotts Miracle-Gro in the 4th quarter worth approximately $26,000. Norges Bank purchased a new position in Scotts Miracle-Gro in the 4th quarter worth approximately $9,684,000. Bayesian Capital Management LP purchased a new position in Scotts Miracle-Gro in the 4th quarter worth approximately $1,261,000. Finally, IFP Advisors Inc raised its holdings in Scotts Miracle-Gro by 115.8% in the 4th quarter. IFP Advisors Inc now owns 790 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 424 shares during the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SMG shares. Wells Fargo & Company boosted their target price on shares of Scotts Miracle-Gro from $67.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. JPMorgan Chase & Co. decreased their target price on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. UBS Group cut their price objective on shares of 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 boosted their price objective on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Finally, Stifel Nicolaus downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and boosted their price objective for the company from $70.00 to $71.00 in a research report on Monday, June 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.67.

Scotts Miracle-Gro Price Performance

Shares of SMG stock opened at $61.13 on Monday. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -127.35 and a beta of 1.99. The firm has a fifty day moving average price of $56.91 and a 200-day moving average price of $62.62. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share for the quarter, topping the consensus estimate of $3.95 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.50 billion. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. Scotts Miracle-Gro’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.69 EPS. Equities research analysts expect that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 23rd were issued a $0.66 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.64 annualized dividend and a dividend yield of 4.32%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 528.00%.

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.