Interval Partners LP Has $47.09 Million Position in The Scotts Miracle-Gro Company $SMG

Interval Partners LP boosted its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 82.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 807,061 shares of the basic materials company’s stock after buying an additional 364,285 shares during the quarter. Scotts Miracle-Gro makes up approximately 0.8% of Interval Partners LP’s portfolio, making the stock its 25th biggest position. Interval Partners LP owned 1.39% of Scotts Miracle-Gro worth $47,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Clearline Capital LP lifted its holdings in Scotts Miracle-Gro by 520.7% during the 4th quarter. Clearline Capital LP now owns 108,454 shares of the basic materials company’s stock worth $6,328,000 after buying an additional 90,980 shares during the period. Balyasny Asset Management L.P. lifted its holdings in Scotts Miracle-Gro by 39.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 613,693 shares of the basic materials company’s stock worth $35,809,000 after buying an additional 172,356 shares during the period. Boothbay Fund Management LLC acquired a new position in Scotts Miracle-Gro during the 4th quarter worth about $274,000. Armistice Capital LLC acquired a new position in Scotts Miracle-Gro during the 4th quarter worth about $2,912,000. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Scotts Miracle-Gro by 159.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 142,414 shares of the basic materials company’s stock worth $8,310,000 after buying an additional 87,575 shares during the period. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock opened at $62.64 on Thursday. The Scotts Miracle-Gro Company has a one year low of $52.00 and a one year high of $72.35. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 34.99 and a beta of 1.84. The business has a 50-day simple moving average of $61.09 and a 200 day simple moving average of $62.03.

Scotts Miracle-Gro (NYSE:SMG) last issued its earnings results on Wednesday, April 29th. The basic materials company reported $4.53 EPS for the quarter, beating analysts’ consensus estimates of $3.97 by $0.56. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company posted $3.98 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that The Scotts Miracle-Gro Company will post 4.36 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 22nd were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Friday, May 22nd. Scotts Miracle-Gro’s payout ratio is currently 147.49%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SMG shares. Wells Fargo & Company lowered their price objective on Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Wall Street Zen lowered Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. UBS Group restated a “neutral” rating and set a $63.00 target price on shares of Scotts Miracle-Gro in a research report on Tuesday, June 2nd. Stifel Nicolaus cut their target price on Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday, June 8th. Finally, Jefferies Financial Group restated a “buy” rating and set a $79.00 target price on shares of Scotts Miracle-Gro in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.67.

Scotts Miracle-Gro Profile

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.