Aristotle Capital Boston LLC Reduces Position in The Scotts Miracle-Gro Company $SMG

Aristotle Capital Boston LLC cut its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 429,789 shares of the basic materials company’s stock after selling 14,858 shares during the quarter. Scotts Miracle-Gro makes up approximately 1.4% of Aristotle Capital Boston LLC’s portfolio, making the stock its 18th largest holding. Aristotle Capital Boston LLC owned 0.74% of Scotts Miracle-Gro worth $25,078,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SMG. Key Capital Management INC purchased a new stake in shares of Scotts Miracle-Gro in the fourth quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Scotts Miracle-Gro in the third quarter worth about $32,000. Smartleaf Asset Management LLC lifted its holdings in shares of Scotts Miracle-Gro by 156.7% in the third quarter. Smartleaf Asset Management LLC now owns 634 shares of the basic materials company’s stock worth $35,000 after buying an additional 387 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Scotts Miracle-Gro by 127.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock worth $52,000 after buying an additional 499 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Scotts Miracle-Gro in the fourth quarter worth about $53,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Price Performance

Shares of SMG opened at $62.64 on Thursday. The firm’s 50 day simple moving average is $61.09 and its 200 day simple moving average is $62.03. The company has a market capitalization of $3.64 billion, a P/E ratio of 34.99 and a beta of 1.84. The Scotts Miracle-Gro Company has a 1-year low of $52.00 and a 1-year high of $72.35.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share for the quarter, beating analysts’ consensus estimates of $3.97 by $0.56. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.41 billion. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. Scotts Miracle-Gro’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $3.98 earnings per share. On average, equities analysts anticipate that The Scotts Miracle-Gro Company will post 4.36 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Friday, May 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 147.49%.

Analyst Ratings Changes

SMG has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $79.00 price target on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Stifel Nicolaus lowered their price target on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Monday, May 4th. UBS Group reissued a “neutral” rating and issued a $63.00 price target on shares of Scotts Miracle-Gro in a report on Tuesday, June 2nd. Finally, Wall Street Zen downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.67.

Scotts Miracle-Gro Company Profile

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.