The Scotts Miracle-Gro Company (NYSE:SMG) Shares Bought by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC grew its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,370 shares of the basic materials company’s stock after acquiring an additional 203 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Scotts Miracle-Gro were worth $812,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP increased its holdings in Scotts Miracle-Gro by 2.4% during the 4th quarter. Wellington Management Group LLP now owns 77,564 shares of the basic materials company’s stock worth $4,945,000 after purchasing an additional 1,807 shares during the period. Rise Advisors LLC grew its position in shares of Scotts Miracle-Gro by 135.2% during 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 in the last quarter. Fulton Bank N.A. purchased a new stake in shares of Scotts Miracle-Gro during the first quarter worth approximately $237,000. Yarbrough Capital LLC raised its holdings in Scotts Miracle-Gro by 46.6% in the first quarter. Yarbrough Capital LLC now owns 16,976 shares of the basic materials company’s stock valued at $1,266,000 after acquiring an additional 5,395 shares in the last quarter. Finally, MJP Associates Inc. ADV purchased a new position in Scotts Miracle-Gro in the first quarter worth approximately $213,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Insiders Place Their Bets

In other news, COO Nathan Eric Baxter sold 2,988 shares of the firm’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 transaction of $211,938.84. Following the transaction, the chief operating officer now directly owns 37,920 shares in the company, valued at approximately $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Nathan Eric Baxter sold 2,988 shares of the company’s stock in a transaction dated 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 directly owns 37,920 shares of the company’s stock, valued at approximately $2,689,665.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the 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 of the company’s stock, valued at $965,232,321.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,078 shares of company stock valued at $6,325,042 over the last quarter. Company insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Trading Down 0.7 %

Shares of NYSE SMG traded down $0.60 during mid-day trading on Thursday, reaching $89.20. The company had a trading volume of 133,367 shares, compared to its average volume of 806,616. The firm has a 50 day simple moving average of $75.80 and a two-hundred day simple moving average of $70.67. The Scotts Miracle-Gro Company has a 52-week low of $43.67 and a 52-week high of $91.09. The stock has a market cap of $5.07 billion, a P/E ratio of -14.40 and a beta of 1.76.

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

Scotts Miracle-Gro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were paid 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 2.96%. Scotts Miracle-Gro’s dividend payout ratio is presently -42.31%.

Wall Street Analyst Weigh In

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

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.