SG Americas Securities LLC Sells 4,222 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

SG Americas Securities LLC decreased its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 72.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,606 shares of the basic materials company’s stock after selling 4,222 shares during the quarter. SG Americas Securities LLC’s holdings in Scotts Miracle-Gro were worth $139,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Versant Capital Management Inc grew its position in Scotts Miracle-Gro by 80.1% during the second 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 in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Scotts Miracle-Gro in the 2nd quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Scotts Miracle-Gro during the 2nd quarter worth approximately $29,000. Hexagon Capital Partners LLC increased its position in shares of Scotts Miracle-Gro by 41.3% during the second quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 161 shares during the period. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Scotts Miracle-Gro by 11,216.7% in the first quarter. Abich Financial Wealth Management LLC now owns 679 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 673 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Analysts Set New Price Targets

SMG has been the topic of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Truist Financial increased their price target on shares of Scotts Miracle-Gro from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.75.

Scotts Miracle-Gro Stock Performance

Shares of NYSE:SMG opened at $86.70 on Friday. The company’s fifty day moving average is $78.21 and its 200-day moving average is $71.39. The Scotts Miracle-Gro Company has a 52 week low of $43.98 and a 52 week high of $91.09. The company has a market capitalization of $4.93 billion, a PE ratio of -18.33 and a beta of 1.76.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.42. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates 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 company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 earnings per share. On average, analysts forecast that The Scotts Miracle-Gro Company will post 2.62 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.04%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -55.81%.

Insider Activity at Scotts Miracle-Gro

In related news, Director Stephen L. Johnson sold 960 shares of Scotts Miracle-Gro stock in a transaction dated 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 transaction, the director now directly owns 22,940 shares of the company’s stock, valued at $1,788,173. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business’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 $6,038,270.90. Following the completion of the sale, the insider now owns 13,608,238 shares in the company, valued at $965,232,321.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stephen L. Johnson sold 960 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $77.95, for a total value of $74,832.00. Following the completion of the transaction, the director now owns 22,940 shares in the company, valued at approximately $1,788,173. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,078 shares of company stock valued at $6,325,042 in the last three months. Corporate insiders own 26.46% of the company’s stock.

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.