Abacus FCF Advisors LLC Has $1.39 Million Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Abacus FCF Advisors LLC raised its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 45.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,904 shares of the basic materials company's stock after buying an additional 6,572 shares during the quarter. Abacus FCF Advisors LLC's holdings in Scotts Miracle-Gro were worth $1,387,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Atala Financial Inc acquired a new stake in Scotts Miracle-Gro during the fourth quarter worth $25,000. SBI Securities Co. Ltd. bought a new stake in Scotts Miracle-Gro in the fourth quarter valued at about $26,000. Wilmington Savings Fund Society FSB acquired a new position in Scotts Miracle-Gro in the third quarter worth about $44,000. Tortoise Investment Management LLC lifted its stake in Scotts Miracle-Gro by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock worth $34,000 after purchasing an additional 225 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Scotts Miracle-Gro by 68.3% during the fourth quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 252 shares in the last quarter. 74.07% of the stock is owned by institutional investors.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 12,123 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $66.86, for a total transaction of $810,543.78. Following the transaction, the director now owns 13,432,151 shares in the company, valued at approximately $898,073,615.86. This trade represents a 0.09 % 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, CEO James Hagedorn sold 142,733 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $71.56, for a total value of $10,213,973.48. Following the transaction, the chief executive officer now owns 88,310 shares of the company's stock, valued at $6,319,463.60. The trade was a 61.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 159,937 shares of company stock worth $11,379,275 over the last ninety days. Company insiders own 25.37% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Truist Financial raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price target on the stock in a research note on Wednesday, April 2nd. Jefferies Financial Group upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and reduced their target price for the company from $72.00 to $69.00 in a research note on Monday, April 7th. UBS Group dropped their target price on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and reduced their price target for the company from $78.00 to $70.00 in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Scotts Miracle-Gro from $80.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $71.83.

Scotts Miracle-Gro Price Performance

Shares of SMG stock traded down $0.03 during trading hours on Monday, reaching $51.16. 290,802 shares of the company were exchanged, compared to its average volume of 880,586. The Scotts Miracle-Gro Company has a fifty-two week low of $46.45 and a fifty-two week high of $93.90. The stock's fifty day moving average is $59.46 and its two-hundred day moving average is $70.60. The company has a market cap of $2.94 billion, a price-to-earnings ratio of -106.58 and a beta of 1.96.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) 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 return on equity of 51.48% and a negative net margin of 0.67%. During the same quarter in the prior year, the business posted ($1.45) EPS. On average, research analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date was Friday, February 21st. Scotts Miracle-Gro's dividend payout ratio (DPR) is -550.00%.

About Scotts Miracle-Gro

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.