Thrivent Financial for Lutherans Sells 357 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Thrivent Financial for Lutherans decreased its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,156 shares of the basic materials company’s stock after selling 357 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Scotts Miracle-Gro were worth $661,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Hexagon Capital Partners LLC raised its holdings in Scotts Miracle-Gro by 41.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock worth $36,000 after buying an additional 161 shares during the period. Versant Capital Management Inc raised its holdings 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. Vanguard Personalized Indexing Management LLC raised its holdings in Scotts Miracle-Gro by 4.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,944 shares of the basic materials company’s stock worth $251,000 after buying an additional 174 shares during the period. Rise Advisors LLC raised its holdings in Scotts Miracle-Gro by 135.2% during the 1st 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. Finally, Arizona State Retirement System raised its holdings in Scotts Miracle-Gro by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 11,904 shares of the basic materials company’s stock worth $774,000 after buying an additional 221 shares during the period. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Scotts Miracle-Gro Stock Up 0.9 %

SMG stock opened at $84.08 on Tuesday. The company has a market cap of $4.78 billion, a PE ratio of -13.47 and a beta of 1.76. The business has a 50-day simple moving average of $73.74 and a 200 day simple moving average of $69.98. The Scotts Miracle-Gro Company has a 52 week low of $43.67 and a 52 week high of $88.35.

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

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend was Friday, August 23rd. Scotts Miracle-Gro’s payout ratio is -42.31%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of 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 boosted their target price on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Scotts Miracle-Gro currently has a consensus rating of “Hold” and an average target price of $80.00.

Insider Transactions at Scotts Miracle-Gro

In other news, COO Nathan Eric Baxter sold 2,988 shares of the business’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 $211,938.84. Following the completion of the transaction, the chief operating officer now owns 37,920 shares of the company’s stock, valued at approximately $2,689,665.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 960 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $77.95, for a total value of $74,832.00. Following the completion of the sale, the director now owns 22,940 shares in the company, valued at approximately $1,788,173. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Nathan Eric Baxter sold 2,988 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $211,938.84. Following the completion of the sale, the chief operating officer now owns 37,920 shares of the company’s stock, valued at $2,689,665.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,078 shares of company stock valued at $6,325,042. 26.46% of the stock is owned by corporate insiders.

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.