Interval Partners LP Raises Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Interval Partners LP boosted its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 3,581.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 478,546 shares of the basic materials company’s stock after buying an additional 465,546 shares during the period. Scotts Miracle-Gro accounts for approximately 1.0% of Interval Partners LP’s portfolio, making the stock its 18th largest position. Interval Partners LP owned 0.84% of Scotts Miracle-Gro worth $35,695,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC lifted its holdings in Scotts Miracle-Gro by 135.2% in the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock worth $25,000 after buying an additional 192 shares during the period. GAMMA Investing LLC bought a new position in shares of Scotts Miracle-Gro during the fourth quarter valued at approximately $29,000. Frazier Financial Advisors LLC bought a new position in shares of Scotts Miracle-Gro during the fourth quarter valued at approximately $36,000. Central Pacific Bank Trust Division bought a new position in shares of Scotts Miracle-Gro during the first quarter valued at approximately $72,000. Finally, Principal Securities Inc. bought a new position in shares of Scotts Miracle-Gro during the fourth quarter valued at approximately $76,000. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Stock Performance

Shares of SMG traded down $0.21 on Tuesday, hitting $70.21. 827,233 shares of the stock traded hands, compared to its average volume of 817,092. The company has a market capitalization of $3.99 billion, a PE ratio of -11.25 and a beta of 1.76. The business has a 50 day simple moving average of $65.92 and a 200 day simple moving average of $65.55. The Scotts Miracle-Gro Company has a one year low of $43.67 and a one year high of $77.95.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.36. Scotts Miracle-Gro had a negative net margin of 10.14% and a negative return on equity of 20.97%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the firm posted $3.78 EPS. The firm’s revenue was down .4% on a year-over-year basis. On average, equities analysts expect that The Scotts Miracle-Gro Company will post 2.55 earnings per share for the current year.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 31,000 shares of Scotts Miracle-Gro stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $69.67, for a total value of $2,159,770.00. Following the completion of the sale, the director now owns 13,746,012 shares of the company’s stock, valued at approximately $957,684,656.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 26.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SMG has been the subject of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Scotts Miracle-Gro from $83.00 to $75.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. StockNews.com raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. raised their target price on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Finally, Truist Financial downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and raised their price target for the company from $65.00 to $75.00 in a research report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.67.

Scotts Miracle-Gro Company 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.