ExodusPoint Capital Management LP Buys Shares of 88,260 The Scotts Miracle-Gro Company (NYSE:SMG)

ExodusPoint Capital Management LP bought a new position in The Scotts Miracle-Gro Company (NYSE:SMG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 88,260 shares of the basic materials company’s stock, valued at approximately $5,855,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Huntington National Bank boosted its position in Scotts Miracle-Gro by 5.8% during the 4th quarter. Huntington National Bank now owns 3,664 shares of the basic materials company’s stock worth $243,000 after acquiring an additional 200 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth approximately $4,008,000. Brown Brothers Harriman & Co. grew its position in Scotts Miracle-Gro by 733.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 883 shares of the basic materials company’s stock valued at $59,000 after purchasing an additional 777 shares in the last quarter. Frazier Financial Advisors LLC acquired a new position in Scotts Miracle-Gro in the 4th quarter valued at approximately $45,000. Finally, New Age Alpha Advisors LLC purchased a new stake in Scotts Miracle-Gro in the 4th quarter worth approximately $503,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Performance

SMG opened at $51.35 on Friday. The Scotts Miracle-Gro Company has a twelve month low of $49.39 and a twelve month high of $93.90. The business has a 50 day moving average price of $62.47 and a 200 day moving average price of $71.92. The firm has a market cap of $2.95 billion, a P/E ratio of -106.98 and a beta of 1.96.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.23) by $0.34. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. During the same quarter in the prior year, the company posted ($1.45) earnings per share. As a group, analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a $0.66 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 5.14%. Scotts Miracle-Gro’s payout ratio is presently -550.00%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SMG. Stifel Nicolaus raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and dropped their price target for the stock from $78.00 to $70.00 in a research note on Tuesday, March 4th. Wells Fargo & Company cut their price target on Scotts Miracle-Gro from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group lowered their price target on Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Truist Financial raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday. Finally, Jefferies Financial Group assumed coverage on shares of Scotts Miracle-Gro in a research report on Monday, December 9th. They issued a “hold” rating and a $72.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.33.

Insider Buying and Selling

In other news, Director Brian E. Sandoval sold 1,513 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $65.86, for a total transaction of $99,646.18. Following the completion of the transaction, the director now owns 13,039 shares of the company’s stock, valued at approximately $858,748.54. This represents a 10.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher Hagedorn sold 3,568 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $71.50, for a total transaction of $255,112.00. Following the completion of the sale, the executive vice president now owns 55,972 shares of the company’s stock, valued at approximately $4,001,998. The trade was a 5.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,937 shares of company stock valued at $11,379,275. Insiders own 25.37% of the company’s stock.

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.