Quest Partners LLC Has $423,000 Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Quest Partners LLC lifted its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 34,084.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,495 shares of the basic materials company’s stock after acquiring an additional 6,476 shares during the period. Quest Partners LLC’s holdings in Scotts Miracle-Gro were worth $423,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Rise Advisors LLC raised 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 purchasing an additional 192 shares during the period. Versant Capital Management Inc raised its stake in Scotts Miracle-Gro by 80.1% during the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after buying an additional 173 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Scotts Miracle-Gro during the second quarter worth about $25,000. Frazier Financial Advisors LLC acquired a new position in Scotts Miracle-Gro in the fourth quarter valued at about $36,000. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Scotts Miracle-Gro by 41.3% in the second quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 74.07% of the company’s stock.

Insider Transactions at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the sale, the insider now owns 13,608,238 shares in the company, valued at $965,232,321.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the completion of the transaction, the insider now directly owns 13,608,238 shares of the company’s stock, valued at $965,232,321.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Nathan Eric Baxter sold 2,988 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $211,938.84. Following the sale, the chief operating officer now directly owns 37,920 shares in the company, valued at $2,689,665.60. The disclosure for this sale can be found here. Insiders sold a total of 89,078 shares of company stock worth $6,325,042 in the last three months. Insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Price Performance

SMG stock opened at $69.74 on Friday. The business has a 50-day moving average of $69.12 and a 200-day moving average of $68.39. The Scotts Miracle-Gro Company has a fifty-two week low of $43.67 and a fifty-two week high of $82.11. The stock has a market capitalization of $3.96 billion, a P/E ratio of -11.18 and a beta of 1.75.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.42. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Scotts Miracle-Gro had a negative net margin of 7.38% and a negative return on equity of 41.19%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the business earned $1.17 EPS. Equities analysts expect that The Scotts Miracle-Gro Company will post 2.62 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were given a dividend of $0.66 per share. The ex-dividend date was Friday, August 23rd. This represents a $2.64 annualized dividend and a yield of 3.79%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -42.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stifel Nicolaus lifted their price objective on Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.00.

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.