Doliver Advisors LP raised its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG – Get Rating) by 16.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,727 shares of the basic materials company's stock after acquiring an additional 1,201 shares during the period. Doliver Advisors LP's holdings in Scotts Miracle-Gro were worth $1,073,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of SMG. Confluence Wealth Services Inc. bought a new position in Scotts Miracle-Gro during the fourth quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Scotts Miracle-Gro by 84.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 212 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 97 shares during the period. Ellevest Inc. boosted its stake in shares of Scotts Miracle-Gro by 74.7% during the first quarter. Ellevest Inc. now owns 276 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 118 shares during the period. Covestor Ltd purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter valued at $50,000. Finally, Quent Capital LLC purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter valued at $66,000. Institutional investors own 62.23% of the company's stock.
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Insider Buying and Selling at Scotts Miracle-Gro
In other news, CEO James Hagedorn sold 60,000 shares of the company's stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $97.74, for a total transaction of $5,864,400.00. Following the transaction, the chief executive officer now owns 261,816 shares in the company, valued at $25,589,895.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP James D. King sold 17,500 shares of the company's stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $98.42, for a total transaction of $1,722,350.00. Following the transaction, the executive vice president now owns 9,760 shares in the company, valued at $960,579.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James Hagedorn sold 60,000 shares of the company's stock in a transaction dated Friday, May 13th. The shares were sold at an average price of $97.74, for a total transaction of $5,864,400.00. Following the transaction, the chief executive officer now owns 261,816 shares in the company, valued at approximately $25,589,895.84. The disclosure for this sale can be found here. Insiders own 27.31% of the company's stock.
Scotts Miracle-Gro Trading Up 4.0 %
Shares of SMG stock traded up $3.26 during mid-day trading on Monday, hitting $84.01. 7,634 shares of the stock traded hands, compared to its average volume of 527,054. The stock's fifty day moving average is $84.78 and its two-hundred day moving average is $108.56. The Scotts Miracle-Gro Company has a 52-week low of $72.58 and a 52-week high of $180.43. The company has a debt-to-equity ratio of 7.55, a quick ratio of 1.10 and a current ratio of 2.42.
Scotts Miracle-Gro (NYSE:SMG – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The basic materials company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.70 by $0.28. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.23 billion. Scotts Miracle-Gro had a negative net margin of 6.36% and a positive return on equity of 36.80%. The company's quarterly revenue was down 26.3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.98 earnings per share. On average, sell-side analysts anticipate that The Scotts Miracle-Gro Company will post 4.12 EPS for the current year.
Scotts Miracle-Gro Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Friday, August 26th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, August 25th. Scotts Miracle-Gro's payout ratio is -54.66%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on SMG. Stifel Nicolaus lowered their target price on shares of Scotts Miracle-Gro from $116.00 to $93.00 in a research note on Tuesday, June 14th. Barclays lowered shares of Scotts Miracle-Gro from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $150.00 to $110.00 in a research note on Thursday, April 21st. Truist Financial lowered shares of Scotts Miracle-Gro from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $185.00 to $85.00 in a research note on Wednesday, June 8th. Wells Fargo & Company lowered shares of Scotts Miracle-Gro from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $115.00 to $85.00 in a research note on Wednesday, June 22nd. Finally, JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $130.00 to $95.00 in a research note on Thursday, June 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Scotts Miracle-Gro currently has an average rating of "Hold" and an average target price of $113.88.
Scotts Miracle-Gro Profile
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The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.
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