Kennedy Capital Management LLC Has $5.45 Million Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Kennedy Capital Management LLC boosted its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,124 shares of the basic materials company's stock after buying an additional 7,545 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.14% of Scotts Miracle-Gro worth $5,448,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Atala Financial Inc acquired a new position in shares of Scotts Miracle-Gro during the fourth quarter valued at $25,000. SBI Securities Co. Ltd. bought a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at about $26,000. Tortoise Investment Management LLC grew its position in shares of Scotts Miracle-Gro by 77.3% during the 4th quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock worth $34,000 after buying an additional 225 shares during the period. Blue Trust Inc. raised its stake in shares of Scotts Miracle-Gro by 68.3% during the fourth quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock worth $41,000 after buying an additional 252 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Scotts Miracle-Gro in the third quarter valued at approximately $44,000. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Price Performance

SMG traded down $0.41 during trading on Tuesday, reaching $51.14. The company had a trading volume of 1,061,384 shares, compared to its average volume of 885,818. The Scotts Miracle-Gro Company has a 12 month low of $46.45 and a 12 month high of $93.90. The business's fifty day moving average price is $59.10 and its 200 day moving average price is $70.36. The company has a market cap of $2.94 billion, a P/E ratio of -106.54 and a beta of 1.96.

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Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) EPS for the quarter, beating 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 period in the previous year, the business posted ($1.45) EPS. As a group, sell-side analysts predict that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend 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%.

Analyst Ratings Changes

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

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, CEO James Hagedorn sold 142,733 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $71.56, for a total transaction of $10,213,973.48. Following the completion of the sale, the chief executive officer now owns 88,310 shares of the company's stock, valued at $6,319,463.60. This trade represents a 61.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian E. Sandoval sold 1,513 shares of the 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 directly owns 13,039 shares in the company, valued at $858,748.54. The trade was a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,937 shares of company stock worth $11,379,275 in the last 90 days. Corporate 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.