The Scotts Miracle-Gro Company (NYSE:SMG) Shares Acquired by FCF Advisors LLC

FCF Advisors LLC increased its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 8.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,204 shares of the basic materials company’s stock after purchasing an additional 1,353 shares during the period. FCF Advisors LLC’s holdings in Scotts Miracle-Gro were worth $1,283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of Scotts Miracle-Gro by 0.4% in the third quarter. Rhumbline Advisers now owns 135,276 shares of the basic materials company’s stock valued at $6,991,000 after acquiring an additional 472 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Scotts Miracle-Gro by 1.2% during the third quarter. PNC Financial Services Group Inc. now owns 45,549 shares of the basic materials company’s stock worth $2,354,000 after buying an additional 559 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Scotts Miracle-Gro by 7.8% during the third quarter. Kestra Advisory Services LLC now owns 6,929 shares of the basic materials company’s stock valued at $358,000 after buying an additional 499 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Scotts Miracle-Gro during the third quarter worth approximately $744,000. Finally, Envestnet Asset Management Inc. grew its stake in Scotts Miracle-Gro by 62.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 595,995 shares of the basic materials company’s stock worth $30,801,000 after acquiring an additional 230,155 shares during the period. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Up 0.1 %

SMG stock traded up $0.05 during midday trading on Monday, reaching $67.09. 105,455 shares of the company’s stock traded hands, compared to its average volume of 807,529. The Scotts Miracle-Gro Company has a fifty-two week low of $43.67 and a fifty-two week high of $77.95. The business has a 50-day moving average price of $67.47 and a two-hundred day moving average price of $64.84.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.36. Scotts Miracle-Gro had a negative net margin of 10.14% and a negative return on equity of 20.97%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business posted $3.78 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts anticipate that The Scotts Miracle-Gro Company will post 2.56 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were paid a $0.66 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.94%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -42.31%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SMG shares. Stifel Nicolaus raised their price objective on Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, March 4th. Truist Financial downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and upped their price objective for the company from $65.00 to $75.00 in a research note on Friday, April 5th. JPMorgan Chase & Co. boosted their target price on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Raymond James reaffirmed a “market perform” rating on shares of Scotts Miracle-Gro in a research note on Monday, March 25th. Finally, Wells Fargo & Company dropped their price objective on Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Scotts Miracle-Gro has an average rating of “Hold” and an average target price of $73.00.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 31,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $69.67, for a total value of $2,159,770.00. Following the completion of the transaction, the director now owns 13,746,012 shares in the company, valued at approximately $957,684,656.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 26.46% of the company’s stock.

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.