Hexagon Capital Partners LLC Has $29,000 Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Hexagon Capital Partners LLC reduced its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 39.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 525 shares of the basic materials company’s stock after selling 345 shares during the period. Hexagon Capital Partners LLC’s holdings in Scotts Miracle-Gro were worth $29,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SMG. Oppenheimer & Co. Inc. boosted its stake in shares of Scotts Miracle-Gro by 19.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 3,134 shares of the basic materials company’s stock valued at $208,000 after purchasing an additional 514 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Scotts Miracle-Gro by 125.2% in the fourth quarter. Jones Financial Companies Lllp now owns 5,975 shares of the basic materials company’s stock valued at $396,000 after buying an additional 3,322 shares during the period. SBI Securities Co. Ltd. bought a new position in Scotts Miracle-Gro in the fourth quarter valued at approximately $26,000. Proficio Capital Partners LLC bought a new position in Scotts Miracle-Gro in the fourth quarter valued at approximately $2,139,000. Finally, Raymond James Financial Inc. bought a new position in Scotts Miracle-Gro in the fourth quarter valued at approximately $39,986,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Price Performance

Shares of SMG stock opened at $68.18 on Tuesday. The stock has a market cap of $3.94 billion, a PE ratio of 136.36 and a beta of 2.01. The stock has a 50-day moving average of $61.04 and a 200-day moving average of $61.63. The Scotts Miracle-Gro Company has a one year low of $45.61 and a one year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $3.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.95 by $0.03. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Scotts Miracle-Gro had a negative return on equity of 56.15% and a net margin of 1.04%. Scotts Miracle-Gro’s revenue for the quarter was down 6.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.69 EPS. As a group, research analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.64 annualized dividend and a yield of 3.87%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 528.00%.

Wall Street Analyst Weigh In

SMG has been the topic of a number of recent research reports. Truist Financial raised their price objective on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, June 6th. Wells Fargo & Company raised their price objective on shares of Scotts Miracle-Gro from $67.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. Jefferies Financial Group raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and reduced their price objective for the company from $72.00 to $69.00 in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their price target on Scotts Miracle-Gro from $80.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Finally, UBS Group lowered their price target on Scotts Miracle-Gro from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.67.

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.