The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 5.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 69,333 shares of the basic materials company’s stock after selling 4,070 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Scotts Miracle-Gro were worth $4,600,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atala Financial Inc acquired a new position in shares of Scotts Miracle-Gro during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new stake in Scotts Miracle-Gro during the fourth quarter worth approximately $26,000. Tortoise Investment Management LLC raised its holdings in Scotts Miracle-Gro by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 225 shares in the last quarter. Blue Trust Inc. raised its holdings in Scotts Miracle-Gro by 68.3% during the fourth quarter. Blue Trust Inc. now owns 621 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 252 shares in the last quarter. Finally, Frazier Financial Advisors LLC bought a new stake in Scotts Miracle-Gro during the fourth quarter worth approximately $45,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Scotts Miracle-Gro Stock Performance

NYSE SMG opened at $62.45 on Monday. The stock has a market capitalization of $3.60 billion, a P/E ratio of -130.10 and a beta of 1.98. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $93.90. The business’s fifty day moving average is $55.05 and its two-hundred day moving average is $64.89.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results 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. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. The firm’s revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.69 earnings per share. On average, research analysts forecast that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders 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 dividend yield of 4.23%. Scotts Miracle-Gro’s dividend payout ratio is currently 528.00%.

Wall Street Analyst Weigh In

Several brokerages recently commented on SMG. Jefferies Financial Group raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating and dropped their target price for the stock from $72.00 to $69.00 in a report on Monday, April 7th. Wells Fargo & Company boosted their target price on Scotts Miracle-Gro from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their target price on Scotts Miracle-Gro from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. UBS Group dropped their target price on Scotts Miracle-Gro from $55.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, Truist Financial raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Wednesday, April 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.83.

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.