Atria Investments LLC Grows Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Atria Investments LLC grew its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,278 shares of the basic materials company’s stock after buying an additional 4,093 shares during the quarter. Atria Investments LLC’s holdings in Scotts Miracle-Gro were worth $3,426,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SMG. Morgan Stanley boosted its stake in shares of Scotts Miracle-Gro by 61.7% during the 2nd quarter. Morgan Stanley now owns 378,698 shares of the basic materials company’s stock valued at $72,680,000 after buying an additional 144,478 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Scotts Miracle-Gro by 2.8% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,759,438 shares of the basic materials company’s stock valued at $696,593,000 after acquiring an additional 130,849 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Scotts Miracle-Gro by 15.1% during the 3rd quarter. Macquarie Group Ltd. now owns 949,706 shares of the basic materials company’s stock valued at $138,999,000 after acquiring an additional 124,936 shares in the last quarter. CWM LLC acquired a new stake in shares of Scotts Miracle-Gro during the 4th quarter valued at approximately $18,395,000. Finally, Raymond James & Associates raised its position in shares of Scotts Miracle-Gro by 28.7% during the 3rd quarter. Raymond James & Associates now owns 424,565 shares of the basic materials company’s stock valued at $62,140,000 after acquiring an additional 94,652 shares in the last quarter. Institutional investors own 61.62% of the company’s stock.

NYSE:SMG opened at $114.65 on Monday. The company has a quick ratio of 0.69, a current ratio of 2.51 and a debt-to-equity ratio of 3.71. The Scotts Miracle-Gro Company has a 1-year low of $110.81 and a 1-year high of $247.84. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 14.95 and a beta of 1.14. The stock has a fifty day simple moving average of $128.26 and a 200 day simple moving average of $145.36.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last released its quarterly earnings results on Tuesday, February 1st. The basic materials company reported ($0.88) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.81) by ($0.07). Scotts Miracle-Gro had a net margin of 9.24% and a return on equity of 46.76%. The company had revenue of $566.00 million during the quarter, compared to analyst estimates of $561.18 million. During the same quarter last year, the business earned $0.39 EPS. The company’s revenue for the quarter was down 24.4% compared to the same quarter last year. Equities analysts predict that The Scotts Miracle-Gro Company will post 8.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 10th. Investors of record on Thursday, February 24th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 2.30%. The ex-dividend date was Wednesday, February 23rd. Scotts Miracle-Gro’s dividend payout ratio is currently 34.69%.

Several equities research analysts have weighed in on the company. Wells Fargo & Company dropped their target price on Scotts Miracle-Gro from $170.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, March 17th. Zacks Investment Research raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating and set a $123.00 target price on the stock in a research report on Tuesday, April 12th. Raymond James dropped their target price on Scotts Miracle-Gro from $185.00 to $150.00 and set a “strong-buy” rating on the stock in a research report on Monday, March 14th. Truist Financial decreased their price target on Scotts Miracle-Gro from $225.00 to $185.00 in a research note on Tuesday, March 22nd. Finally, StockNews.com started coverage on Scotts Miracle-Gro in a research note on Thursday, March 31st. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $191.44.

About Scotts Miracle-Gro (Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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