Corient Private Wealth LLC Grows Position in The Scotts Miracle-Gro Company $SMG

Corient Private Wealth LLC lifted its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 60.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,703 shares of the basic materials company’s stock after purchasing an additional 52,427 shares during the quarter. Corient Private Wealth LLC owned 0.24% of Scotts Miracle-Gro worth $8,016,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Scotts Miracle-Gro by 1.1% during the second quarter. State Street Corp now owns 1,522,093 shares of the basic materials company’s stock worth $100,397,000 after buying an additional 16,298 shares in the last quarter. Ameriprise Financial Inc. grew its position in Scotts Miracle-Gro by 29.5% during the third quarter. Ameriprise Financial Inc. now owns 1,165,367 shares of the basic materials company’s stock valued at $66,368,000 after buying an additional 265,677 shares during the period. Captrust Financial Advisors increased its holdings in Scotts Miracle-Gro by 0.3% in the fourth quarter. Captrust Financial Advisors now owns 1,157,714 shares of the basic materials company’s stock valued at $67,553,000 after buying an additional 2,899 shares in the last quarter. Deprince Race & Zollo Inc. raised its position in shares of Scotts Miracle-Gro by 43.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,036,191 shares of the basic materials company’s stock worth $60,462,000 after acquiring an additional 314,172 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Scotts Miracle-Gro by 26.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 898,519 shares of the basic materials company’s stock worth $51,171,000 after acquiring an additional 187,130 shares during the period. 74.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on SMG. Wells Fargo & Company lowered their target price on shares of Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Stifel Nicolaus reduced their price target on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a report on Monday, June 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $79.00 price target on shares of Scotts Miracle-Gro in a report on Wednesday, April 29th. UBS Group reiterated a “neutral” rating on shares of Scotts Miracle-Gro in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered 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. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.67.

Scotts Miracle-Gro Stock Performance

NYSE:SMG opened at $68.54 on Thursday. The stock has a market capitalization of $3.99 billion, a PE 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. The company has a fifty day moving average of $61.36 and a two-hundred day moving average of $62.34.

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

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, May 22nd. Scotts Miracle-Gro’s payout ratio is presently 147.49%.

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.