The Scotts Miracle-Gro Company (NYSE:SMG) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,564 shares of the basic materials company’s stock after purchasing an additional 1,807 shares during the quarter. Wellington Management Group LLP owned approximately 0.14% of Scotts Miracle-Gro worth $4,945,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in Scotts Miracle-Gro by 1.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,183,932 shares of the basic materials company’s stock worth $139,226,000 after buying an additional 25,863 shares during the last quarter. Gabelli Funds LLC increased its stake in Scotts Miracle-Gro by 10.1% during the fourth quarter. Gabelli Funds LLC now owns 30,500 shares of the basic materials company’s stock valued at $1,944,000 after purchasing an additional 2,800 shares during the last quarter. Carmignac Gestion acquired a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth $3,411,000. Bridgecreek Investment Management LLC lifted its position in shares of Scotts Miracle-Gro by 4.4% in the 4th quarter. Bridgecreek Investment Management LLC now owns 45,350 shares of the basic materials company’s stock worth $2,891,000 after buying an additional 1,900 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at about $1,793,000. Institutional investors own 74.07% of the company’s stock.

Analyst Upgrades and Downgrades

SMG has been the topic of a number of recent research reports. Wells Fargo & Company cut their target price on shares of Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Truist Financial lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating and boosted their price objective for the company from $65.00 to $75.00 in a research report on Friday, April 5th. StockNews.com raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Raymond James reissued a “market perform” rating on shares of Scotts Miracle-Gro in a report on Monday, March 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.00.

Scotts Miracle-Gro Stock Down 2.7 %

Shares of SMG opened at $65.06 on Friday. The firm has a market capitalization of $3.70 billion, a PE ratio of -10.43 and a beta of 1.77. The firm has a 50-day moving average price of $67.32 and a 200 day moving average price of $65.04. The Scotts Miracle-Gro Company has a 52-week low of $43.67 and a 52-week high of $77.95.

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

Scotts Miracle-Gro Dividend Announcement

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 $0.66 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.64 annualized dividend and a dividend yield of 4.06%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is -42.31%.

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 dated Tuesday, May 7th. The shares were sold at an average price of $69.67, for a total value of $2,159,770.00. Following the completion of the sale, the director now directly owns 13,746,012 shares of the company’s stock, valued at approximately $957,684,656.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro 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.