The Scotts Miracle-Gro Company (NYSE:SMG) Stock Holdings Decreased by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC trimmed its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 36.1% in the third quarter, Holdings Channel reports. The firm owned 2,413 shares of the basic materials company’s stock after selling 1,364 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Scotts Miracle-Gro were worth $209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thrive Wealth Management LLC acquired a new position in Scotts Miracle-Gro in the third quarter worth $212,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at about $929,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Scotts Miracle-Gro during the 2nd quarter valued at about $29,000. Sanctuary Advisors LLC acquired a new stake in Scotts Miracle-Gro during the second quarter worth about $2,249,000. Finally, Cetera Investment Advisers lifted its holdings in Scotts Miracle-Gro by 2.1% in the second quarter. Cetera Investment Advisers now owns 42,889 shares of the basic materials company’s stock worth $2,790,000 after acquiring an additional 902 shares during the last quarter. 74.07% of the stock is owned by institutional investors.

Scotts Miracle-Gro Stock Up 1.6 %

Shares of NYSE SMG opened at $86.36 on Friday. The firm’s 50-day simple moving average is $74.66 and its 200 day simple moving average is $70.37. The stock has a market cap of $4.91 billion, a P/E ratio of -18.26 and a beta of 1.76. The Scotts Miracle-Gro Company has a fifty-two week low of $43.67 and a fifty-two week high of $88.35.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.20 billion. During the same period in the prior year, the business posted $1.17 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, sell-side analysts anticipate that The Scotts Miracle-Gro Company will post 2.62 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, August 23rd. Scotts Miracle-Gro’s dividend payout ratio is presently -55.81%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SMG. Wells Fargo & Company upped 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. Stifel Nicolaus upped their price objective on Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Scotts Miracle-Gro has an average rating of “Hold” and a consensus price target of $80.00.

Insider Activity

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 transaction of $74,832.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Stephen L. Johnson sold 960 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $77.95, for a total transaction of $74,832.00. Following the completion of the sale, the director now directly owns 22,940 shares in the company, valued at approximately $1,788,173. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Nathan Eric Baxter sold 2,988 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 value of $211,938.84. Following the completion of the transaction, the chief operating officer now directly owns 37,920 shares in the company, valued at $2,689,665.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,078 shares of company stock worth $6,325,042 over the last 90 days. 26.46% of the stock is currently owned by company insiders.

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.