Two Sigma Investments LP Has $22.94 Million Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Two Sigma Investments LP lowered its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 32.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 345,718 shares of the basic materials company’s stock after selling 165,270 shares during the quarter. Two Sigma Investments LP owned approximately 0.60% of Scotts Miracle-Gro worth $22,935,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Atala Financial Inc bought a new position in Scotts Miracle-Gro in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new position in shares of Scotts Miracle-Gro during the 4th quarter valued at about $26,000. Tortoise Investment Management LLC raised its holdings 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. raised its position in Scotts Miracle-Gro by 68.3% in the 4th 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 during the last quarter. Finally, Frazier Financial Advisors LLC acquired a new position in Scotts Miracle-Gro during the fourth quarter worth $45,000. 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 stock’s 50-day moving average is $55.14 and its 200-day moving average is $64.66. The Scotts Miracle-Gro Company has a 1-year low of $45.61 and a 1-year high of $93.90. The stock has a market cap of $3.52 billion, a P/E ratio of -126.90 and a beta of 1.98.

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

Scotts Miracle-Gro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.33%. Scotts Miracle-Gro’s payout ratio is presently 528.00%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SMG shares. UBS Group lowered their price objective on shares of Scotts Miracle-Gro from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. 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. Jefferies Financial Group raised 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. Wells Fargo & Company increased their target price on shares of Scotts Miracle-Gro from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. dropped 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.83.

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.