State of Alaska Department of Revenue Grows Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

State of Alaska Department of Revenue raised its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 7.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,886 shares of the basic materials company’s stock after purchasing an additional 335 shares during the period. State of Alaska Department of Revenue’s holdings in Scotts Miracle-Gro were worth $423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in shares of Scotts Miracle-Gro by 72.6% in the first quarter. BNP Paribas Financial Markets now owns 42,928 shares of the basic materials company’s stock worth $3,202,000 after acquiring an additional 18,060 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in Scotts Miracle-Gro by 2.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 36,647 shares of the basic materials company’s stock valued at $2,734,000 after purchasing an additional 866 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Scotts Miracle-Gro by 9.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 15,041 shares of the basic materials company’s stock worth $1,122,000 after purchasing an additional 1,289 shares during the last quarter. Swiss National Bank grew its holdings in shares of Scotts Miracle-Gro by 1.1% during the first quarter. Swiss National Bank now owns 83,900 shares of the basic materials company’s stock worth $6,258,000 after buying an additional 900 shares in the last quarter. Finally, Atomi Financial Group Inc. acquired a new position in shares of Scotts Miracle-Gro in the first quarter valued at approximately $267,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Down 0.5 %

Shares of Scotts Miracle-Gro stock opened at $72.61 on Friday. The business’s fifty day moving average price is $80.87 and its 200 day moving average price is $72.43. The Scotts Miracle-Gro Company has a twelve month low of $48.29 and a twelve month high of $93.90. The stock has a market capitalization of $4.13 billion, a P/E ratio of -105.23 and a beta of 1.76.

Scotts Miracle-Gro (NYSE:SMG) last released 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). Scotts Miracle-Gro had a negative net margin of 0.98% and a negative return on equity of 44.97%. The firm had revenue of $414.70 million during the quarter, compared to analyst estimates of $392.95 million. As a group, sell-side analysts predict that The Scotts Miracle-Gro Company will post 3.69 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

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

Analyst Ratings Changes

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

Insider Transactions at Scotts Miracle-Gro

In related 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 directly owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm’s 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 directly owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Nathan Eric Baxter sold 2,988 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 owns 37,920 shares of the company’s stock, valued at approximately $2,689,665.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.46% of the company’s stock.

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.