Tidal Investments LLC Cuts Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Tidal Investments LLC lessened its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 10.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 42,837 shares of the basic materials company’s stock after selling 4,927 shares during the quarter. Tidal Investments LLC’s holdings in Scotts Miracle-Gro were worth $2,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Atala Financial Inc purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Scotts Miracle-Gro during the fourth quarter worth about $26,000. Tortoise Investment Management LLC increased its stake in shares of 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 acquiring an additional 225 shares during the period. Blue Trust Inc. boosted its stake in shares of Scotts Miracle-Gro by 68.3% in the fourth quarter. Blue Trust Inc. now owns 621 shares of the basic materials company’s stock valued at $41,000 after buying an additional 252 shares in the last quarter. Finally, Frazier Financial Advisors LLC purchased a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Down 3.1%

NYSE:SMG opened at $60.91 on Thursday. The company has a market capitalization of $3.52 billion, a P/E ratio of -126.90 and a beta of 1.98. The firm has a 50-day moving average price of $55.14 and a two-hundred day moving average price of $64.66. The Scotts Miracle-Gro Company has a twelve month low of $45.61 and a twelve month high of $93.90.

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

Scotts Miracle-Gro Announces Dividend

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 given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend is Friday, May 23rd. Scotts Miracle-Gro’s payout ratio is 528.00%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Scotts Miracle-Gro from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Tuesday, May 13th. Stifel Nicolaus upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and reduced their price objective for the company from $78.00 to $70.00 in a research note on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price objective 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. Jefferies Financial Group upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and reduced their price objective for the company from $72.00 to $69.00 in a research note on Monday, April 7th. Finally, Truist Financial upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.83.

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.