The Scotts Miracle-Gro Company $SMG Shares Purchased by Corient Private Wealth LLC

Corient Private Wealth LLC boosted its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 60.8% in the 4th quarter, Holdings Channel reports. The firm owned 138,703 shares of the basic materials company’s stock after acquiring an additional 52,427 shares during the quarter. Corient Private Wealth LLC’s holdings in Scotts Miracle-Gro were worth $8,016,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Empowered Funds LLC grew its position in shares of Scotts Miracle-Gro by 26.3% in the first quarter. Empowered Funds LLC now owns 7,524 shares of the basic materials company’s stock valued at $413,000 after purchasing an additional 1,569 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Scotts Miracle-Gro by 18.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 149,882 shares of the basic materials company’s stock worth $8,227,000 after buying an additional 23,446 shares in the last quarter. Prudential Financial Inc. lifted its position in Scotts Miracle-Gro by 34.6% during the second quarter. Prudential Financial Inc. now owns 4,745 shares of the basic materials company’s stock worth $342,000 after buying an additional 1,219 shares in the last quarter. Invesco Ltd. boosted its stake in Scotts Miracle-Gro by 71.2% during the second quarter. Invesco Ltd. now owns 247,749 shares of the basic materials company’s stock worth $16,342,000 after buying an additional 102,997 shares during the last quarter. Finally, Baird Financial Group Inc. acquired a new position in Scotts Miracle-Gro during the second quarter worth $309,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Stock Performance

Shares of Scotts Miracle-Gro stock opened at $68.54 on Thursday. The stock has a 50 day moving average of $61.36 and a 200 day moving average of $62.34. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 38.29 and a beta of 1.84. The Scotts Miracle-Gro Company has a fifty-two week low of $52.00 and a fifty-two week high of $72.35.

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

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, May 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 147.49%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Stifel Nicolaus cut their target price on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, June 8th. Wall Street Zen lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. UBS Group reissued a “neutral” rating on shares of Scotts Miracle-Gro in a research report on Tuesday. JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $70.00 to $67.00 in a report on Thursday, March 26th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.