Quantinno Capital Management LP Has $6.41 Million Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Quantinno Capital Management LP lifted its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,562 shares of the basic materials company’s stock after purchasing an additional 9,344 shares during the period. Quantinno Capital Management LP owned 0.17% of Scotts Miracle-Gro worth $6,406,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Man Group plc grew its stake in Scotts Miracle-Gro by 24.2% in the 4th quarter. Man Group plc now owns 264,668 shares of the basic materials company’s stock valued at $17,558,000 after buying an additional 51,624 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Scotts Miracle-Gro in the 4th quarter valued at about $375,000. Millennium Management LLC grew its stake in Scotts Miracle-Gro by 87.9% in the 4th quarter. Millennium Management LLC now owns 365,548 shares of the basic materials company’s stock valued at $24,250,000 after buying an additional 171,034 shares during the last quarter. LRI Investments LLC grew its stake in Scotts Miracle-Gro by 75.7% in the 4th quarter. LRI Investments LLC now owns 3,409 shares of the basic materials company’s stock valued at $226,000 after buying an additional 1,469 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in Scotts Miracle-Gro by 72.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 628,414 shares of the basic materials company’s stock valued at $41,689,000 after buying an additional 264,369 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Scotts Miracle-Gro Price Performance

NYSE SMG opened at $62.45 on Friday. The business has a fifty day moving average price of $55.05 and a two-hundred day moving average price of $65.20. The Scotts Miracle-Gro Company has a fifty-two week low of $45.61 and a fifty-two week high of $93.90. The stock has a market capitalization of $3.60 billion, a PE ratio of -130.10 and a beta of 1.98.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.95 by $0.03. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.69 earnings per share. As a group, sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors 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 dividend on an annualized basis and a yield of 4.23%. Scotts Miracle-Gro’s payout ratio is 528.00%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. 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 research report on Tuesday. Truist Financial upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Wednesday, April 2nd. Jefferies Financial Group upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and decreased their target price for the stock from $72.00 to $69.00 in a research report on Monday, April 7th. JPMorgan Chase & Co. decreased their target price on shares of Scotts Miracle-Gro from $80.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Finally, UBS Group decreased their target price on shares of Scotts Miracle-Gro from $55.00 to $54.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.