Janney Montgomery Scott LLC Has $6.81 Million Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Janney Montgomery Scott LLC grew its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 0.9% during the third quarter, Holdings Channel.com reports. The firm owned 78,506 shares of the basic materials company’s stock after buying an additional 708 shares during the period. Janney Montgomery Scott LLC’s holdings in Scotts Miracle-Gro were worth $6,807,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SMG. Price T Rowe Associates Inc. MD lifted its position in shares of Scotts Miracle-Gro by 24.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,726,338 shares of the basic materials company’s stock worth $203,359,000 after buying an additional 542,406 shares during the last quarter. AQR Capital Management LLC grew its stake in Scotts Miracle-Gro by 194.2% in the 2nd quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock valued at $49,515,000 after buying an additional 502,353 shares during the last quarter. Earnest Partners LLC boosted its holdings in Scotts Miracle-Gro by 18.2% during the first quarter. Earnest Partners LLC now owns 3,113,153 shares of the basic materials company’s stock valued at $232,210,000 after acquiring an additional 479,315 shares during the period. Interval Partners LP lifted its position in shares of Scotts Miracle-Gro by 3,581.1% during the 1st quarter. Interval Partners LP now owns 478,546 shares of the basic materials company’s stock worth $35,695,000 after purchasing an additional 465,546 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Scotts Miracle-Gro by 8,330.2% during the 3rd quarter. International Assets Investment Management LLC now owns 281,485 shares of the basic materials company’s stock valued at $24,405,000 after purchasing an additional 278,146 shares during the period. 74.07% of the stock is owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Stock Performance

Shares of NYSE:SMG opened at $72.61 on Friday. The firm has a market cap of $4.13 billion, a PE ratio of -105.23 and a beta of 1.76. The Scotts Miracle-Gro Company has a twelve month low of $48.29 and a twelve month high of $93.90. The business has a fifty day moving average of $80.87 and a 200-day moving average of $72.43.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported ($2.31) earnings per share for the quarter, missing the consensus estimate of ($1.94) by ($0.37). The company had revenue of $414.70 million during the quarter, compared to the consensus estimate of $392.95 million. Scotts Miracle-Gro had a negative return on equity of 44.97% and a negative net margin of 0.98%. On average, analysts anticipate that The Scotts Miracle-Gro Company will post 3.69 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.66 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a yield of 3.64%. Scotts Miracle-Gro’s payout ratio is presently -382.61%.

Analyst Ratings Changes

SMG has been the subject of several research analyst reports. Stifel Nicolaus upped their target price on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Truist Financial cut their price target on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a report on Friday. UBS Group decreased their price objective on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday. Wells Fargo & Company reduced their target price on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $78.60.

Insider Activity

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were 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 approximately $965,232,321.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, COO Nathan Eric Baxter sold 2,988 shares of the business’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 $211,938.84. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.