Fidelis Capital Partners LLC Makes New $87,000 Investment in The Scotts Miracle-Gro Company (NYSE:SMG)

Fidelis Capital Partners LLC purchased a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,168 shares of the basic materials company’s stock, valued at approximately $87,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SMG. Rise Advisors LLC increased its holdings in shares of Scotts Miracle-Gro by 135.2% in 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. GAMMA Investing LLC bought a new stake in Scotts Miracle-Gro during the fourth quarter worth about $29,000. Frazier Financial Advisors LLC bought a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at about $36,000. Bruce G. Allen Investments LLC purchased a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at about $47,000. Finally, Principal Securities Inc. purchased a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at $76,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 31,000 shares of Scotts Miracle-Gro 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 sale, the director now owns 13,746,012 shares of the company’s stock, valued at approximately $957,684,656.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 26.46% of the company’s stock.

Analysts Set New Price Targets

SMG has been the topic of several recent analyst reports. Truist Financial cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and raised their target price for the stock from $65.00 to $75.00 in a report on Friday, April 5th. Raymond James reaffirmed a “market perform” rating on shares of Scotts Miracle-Gro in a research report on Monday, March 25th. JPMorgan Chase & Co. boosted their target price on Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Wells Fargo & Company decreased 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, StockNews.com raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $73.00.

Scotts Miracle-Gro Stock Down 0.8 %

NYSE SMG opened at $62.21 on Tuesday. The stock’s 50-day moving average price is $66.72 and its 200-day moving average price is $65.13. The company has a market capitalization of $3.53 billion, a P/E ratio of -9.97 and a beta of 1.76. 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 issued its earnings results on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share for the quarter, topping 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 company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm posted $3.78 EPS. Scotts Miracle-Gro’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts anticipate that The Scotts Miracle-Gro Company will post 2.55 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders 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 annualized dividend and a yield of 4.24%. Scotts Miracle-Gro’s payout ratio is -42.31%.

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.