Aristotle Capital Boston LLC reduced its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG – Free Report) by 3.3% during the fourth quarter, Holdings Channel reports. The fund owned 429,789 shares of the basic materials company’s stock after selling 14,858 shares during the period. Scotts Miracle-Gro comprises about 1.4% of Aristotle Capital Boston LLC’s investment portfolio, making the stock its 18th biggest position. Aristotle Capital Boston LLC’s holdings in Scotts Miracle-Gro were worth $25,078,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Balyasny Asset Management L.P. grew its position in Scotts Miracle-Gro by 39.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 613,693 shares of the basic materials company’s stock valued at $35,809,000 after acquiring an additional 172,356 shares during the last quarter. Boothbay Fund Management LLC bought a new position in Scotts Miracle-Gro during the fourth quarter valued at approximately $274,000. Armistice Capital LLC bought a new position in Scotts Miracle-Gro during the fourth quarter valued at approximately $2,912,000. Schonfeld Strategic Advisors LLC grew its position in Scotts Miracle-Gro by 159.7% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 142,414 shares of the basic materials company’s stock valued at $8,310,000 after acquiring an additional 87,575 shares during the last quarter. Finally, Jump Financial LLC bought a new position in Scotts Miracle-Gro during the fourth quarter valued at approximately $3,555,000. 74.07% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have commented on SMG shares. Wells Fargo & Company reduced their price target on shares of Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Stifel Nicolaus cut their target price 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. Jefferies Financial Group restated a “buy” rating and issued a $79.00 target price on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Monday, May 4th. Finally, Wall Street Zen cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $72.67.
Scotts Miracle-Gro Stock Performance
Shares of Scotts Miracle-Gro stock opened at $62.64 on Thursday. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 34.99 and a beta of 1.84. The company’s 50 day moving average price is $61.09 and its 200-day moving average price is $62.03. The Scotts Miracle-Gro Company has a 52-week low of $52.00 and a 52-week high of $72.35.
Scotts Miracle-Gro (NYSE:SMG – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share for the quarter, beating the consensus estimate of $3.97 by $0.56. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.98 earnings per share. As a group, equities research analysts forecast that The Scotts Miracle-Gro Company will post 4.36 earnings per share for the current fiscal year.
Scotts Miracle-Gro Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a $0.66 dividend. The ex-dividend date was Friday, May 22nd. This represents a $2.64 annualized dividend and a yield of 4.2%. Scotts Miracle-Gro’s payout ratio is 147.49%.
About Scotts Miracle-Gro
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.
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