3,000 Shares in The Scotts Miracle-Gro Company (NYSE:SMG) Acquired by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC acquired a new stake in The Scotts Miracle-Gro Company (NYSE:SMG) during the third quarter, Holdings Channel reports. The fund acquired 3,000 shares of the basic materials company’s stock, valued at approximately $260,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in shares of Scotts Miracle-Gro by 80.1% in the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock valued at $25,000 after buying an additional 173 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Scotts Miracle-Gro in the 2nd quarter valued at about $25,000. Global X Japan Co. Ltd. purchased a new position in Scotts Miracle-Gro in the 3rd quarter worth approximately $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Scotts Miracle-Gro in the second quarter valued at approximately $29,000. Finally, Blue Trust Inc. increased its holdings in shares of Scotts Miracle-Gro by 83.6% in the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Analyst Upgrades and Downgrades

SMG has been the subject of several analyst reports. 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. Truist Financial upped their price objective on shares of Scotts Miracle-Gro from $65.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. Finally, Stifel Nicolaus lifted their target price 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $83.75.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, Director Stephen L. Johnson sold 960 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $77.95, for a total transaction of $74,832.00. Following the completion of the transaction, the director now directly owns 22,940 shares in the company, valued at $1,788,173. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Stephen L. Johnson sold 960 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $77.95, for a total transaction of $74,832.00. Following the sale, the director now owns 22,940 shares of the company’s stock, valued at approximately $1,788,173. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of Scotts Miracle-Gro 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 $6,038,270.90. Following the completion of the transaction, 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. 26.46% of the stock is owned by company insiders.

Scotts Miracle-Gro Stock Down 0.8 %

Shares of Scotts Miracle-Gro stock opened at $86.74 on Friday. The firm has a market cap of $4.93 billion, a PE ratio of -13.90 and a beta of 1.76. The Scotts Miracle-Gro Company has a 52 week low of $43.98 and a 52 week high of $91.09. The business’s fifty day simple moving average is $78.21 and its 200-day simple moving average is $71.36.

Scotts Miracle-Gro (NYSE:SMG) last posted its 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. 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 for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. Scotts Miracle-Gro’s revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities analysts expect that The Scotts Miracle-Gro Company will post 2.62 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a $0.66 dividend. The ex-dividend date was Friday, August 23rd. This represents a $2.64 annualized dividend and a yield of 3.04%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -42.31%.

Scotts Miracle-Gro Company 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.