The Scotts Miracle-Gro Company (NYSE:SMG) Shares Bought by Benjamin Edwards Inc.

Benjamin Edwards Inc. grew its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 429.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,828 shares of the basic materials company’s stock after purchasing an additional 2,294 shares during the period. Benjamin Edwards Inc.’s holdings in Scotts Miracle-Gro were worth $245,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Cetera Advisors LLC grew its stake in Scotts Miracle-Gro by 65.0% during the first quarter. Cetera Advisors LLC now owns 5,198 shares of the basic materials company’s stock worth $388,000 after buying an additional 2,048 shares during the period. SG Americas Securities LLC acquired a new stake in Scotts Miracle-Gro in the 2nd quarter valued at $379,000. Wealth Enhancement Advisory Services LLC raised its position in Scotts Miracle-Gro by 55.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,808 shares of the basic materials company’s stock valued at $378,000 after purchasing an additional 2,081 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Scotts Miracle-Gro by 7.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 16,211 shares of the basic materials company’s stock worth $1,055,000 after purchasing an additional 1,170 shares in the last quarter. Finally, Everpar Advisors LLC boosted its position in shares of Scotts Miracle-Gro by 7.3% in the second quarter. Everpar Advisors LLC now owns 6,782 shares of the basic materials company’s stock worth $441,000 after buying an additional 463 shares during the period. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SMG shares. Stifel Nicolaus raised their target price on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price objective 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, November 7th. Truist Financial decreased their target price on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group started coverage on shares of Scotts Miracle-Gro in a research note on Monday. They set a “hold” rating and a $72.00 price target on the stock. Finally, UBS Group decreased their price objective on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $77.50.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, CEO James Hagedorn sold 18,368 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $75.68, for a total transaction of $1,390,090.24. Following the sale, the chief executive officer now owns 87,426 shares in the company, valued at $6,616,399.68. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00. Following the completion of the transaction, the insider now directly owns 13,553,274 shares in the company, valued at $1,045,499,556.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,227 shares of company stock worth $4,410,268 over the last quarter. 26.46% of the stock is owned by corporate insiders.

Scotts Miracle-Gro Price Performance

Shares of SMG stock opened at $73.74 on Wednesday. The firm has a fifty day moving average of $81.55 and a two-hundred day moving average of $73.61. The firm has a market cap of $4.23 billion, a P/E ratio of -106.86 and a beta of 1.71. The Scotts Miracle-Gro Company has a 1-year low of $53.43 and a 1-year high of $93.90.

Scotts Miracle-Gro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.58%. The ex-dividend date was Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

About Scotts Miracle-Gro

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.