Paragon Capital Management Inc. Buys New Shares in The Scotts Miracle-Gro Company (NYSE:SMG)

Paragon Capital Management Inc. purchased a new stake in The Scotts Miracle-Gro Company (NYSE:SMG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,919 shares of the basic materials company’s stock, valued at approximately $2,507,000. Scotts Miracle-Gro makes up approximately 1.8% of Paragon Capital Management Inc.’s holdings, making the stock its 13th largest position. Paragon Capital Management Inc. owned approximately 0.05% of Scotts Miracle-Gro as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Rise Advisors LLC increased its position in shares of Scotts Miracle-Gro by 135.2% in the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 192 shares in the last quarter. Versant Capital Management Inc grew its position in Scotts Miracle-Gro by 80.1% during the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 173 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Scotts Miracle-Gro during the 2nd quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Scotts Miracle-Gro in the second quarter valued at $29,000. Finally, Hexagon Capital Partners LLC grew its holdings in shares of Scotts Miracle-Gro by 41.3% during the second quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock valued at $36,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Insider Buying and Selling

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 13,608,238 shares in the company, valued at $965,232,321.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Nathan Eric Baxter sold 2,988 shares of the business’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 $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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the completion of the sale, the insider now directly owns 13,608,238 shares in the company, 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. In the last ninety days, insiders sold 89,078 shares of company stock worth $6,325,042. 26.46% of the stock is currently owned by insiders.

Scotts Miracle-Gro Stock Up 0.9 %

NYSE SMG opened at $89.84 on Thursday. The company has a 50 day moving average price of $75.80 and a two-hundred day moving average price of $70.67. The Scotts Miracle-Gro Company has a 12-month low of $43.67 and a 12-month high of $91.09. The stock has a market capitalization of $5.10 billion, a PE ratio of -14.40 and a beta of 1.76.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share (EPS) 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 firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the company posted $1.17 earnings per share. Scotts Miracle-Gro’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities analysts anticipate that The Scotts Miracle-Gro Company will post 2.62 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors 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 2.94%. The ex-dividend date was Friday, August 23rd. Scotts Miracle-Gro’s payout ratio is -42.31%.

Analysts Set New Price Targets

A number of equities research analysts have commented on SMG shares. Truist Financial raised their price objective on Scotts Miracle-Gro from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday. Stifel Nicolaus upped their price objective on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $83.75.

Scotts Miracle-Gro 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.