Citigroup Inc. Purchases 8,887 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Citigroup Inc. lifted its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 37.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,384 shares of the basic materials company’s stock after purchasing an additional 8,887 shares during the period. Citigroup Inc. owned 0.06% of The Scotts Miracle-Gro worth $6,215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SMG. Paragon Wealth Strategies LLC bought a new position in shares of The Scotts Miracle-Gro during the second quarter valued at about $27,000. Hexagon Capital Partners LLC increased its holdings in The Scotts Miracle-Gro by 123.1% during the first quarter. Hexagon Capital Partners LLC now owns 116 shares of the basic materials company’s stock worth $28,000 after buying an additional 64 shares during the last quarter. Ameritas Investment Company LLC purchased a new stake in The Scotts Miracle-Gro during the first quarter worth about $35,000. Tobam purchased a new stake in The Scotts Miracle-Gro during the first quarter worth about $42,000. Finally, NEXT Financial Group Inc increased its holdings in The Scotts Miracle-Gro by 123.0% during the second quarter. NEXT Financial Group Inc now owns 252 shares of the basic materials company’s stock worth $48,000 after buying an additional 139 shares during the last quarter. 62.24% of the stock is currently owned by institutional investors.

SMG stock opened at $144.85 on Friday. The firm has a 50 day moving average of $160.83 and a 200-day moving average of $198.28. The company has a current ratio of 2.15, a quick ratio of 1.22 and a debt-to-equity ratio of 1.90. The Scotts Miracle-Gro Company has a 12 month low of $139.20 and a 12 month high of $254.34. The firm has a market capitalization of $8.08 billion, a P/E ratio of 14.68 and a beta of 1.13.

The Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Wednesday, August 4th. The basic materials company reported $3.98 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.46. The Scotts Miracle-Gro had a net margin of 11.11% and a return on equity of 66.94%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the business earned $3.80 earnings per share. The Scotts Miracle-Gro’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts predict that The Scotts Miracle-Gro Company will post 9.21 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 27th were given a $0.66 dividend. This is a positive change from The Scotts Miracle-Gro’s previous quarterly dividend of $0.62. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Thursday, August 26th. The Scotts Miracle-Gro’s dividend payout ratio (DPR) is 36.46%.

A number of analysts recently issued reports on the stock. Truist decreased their price objective on shares of The Scotts Miracle-Gro from $300.00 to $250.00 and set a “buy” rating for the company in a report on Monday, July 12th. Truist Securities reduced their target price on shares of The Scotts Miracle-Gro from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, July 12th. JPMorgan Chase & Co. reduced their target price on shares of The Scotts Miracle-Gro from $240.00 to $198.00 and set a “neutral” rating for the company in a research note on Thursday, June 24th. Berenberg Bank reiterated a “buy” rating and issued a $257.00 target price on shares of The Scotts Miracle-Gro in a research note on Wednesday, September 1st. Finally, Raymond James reduced their target price on shares of The Scotts Miracle-Gro from $230.00 to $200.00 and set a “strong-buy” rating for the company in a research note on Wednesday, September 15th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Scotts Miracle-Gro currently has an average rating of “Buy” and an average price target of $227.56.

The Scotts Miracle-Gro Profile

Scotts Miracle-Gro Co engages in the manufacture, marketing, and distribution of systems and accessories for hydroponic gardening. It operates through the following segments: U.S. Consumer, Hawthorne, and Other. The U.S. Consumer segment consists of consumer lawn and garden business. The Hawthorn segment includes indoor, urban, and hydroponic gardening business.

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

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