NewEdge Wealth LLC Has $2.17 Million Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

NewEdge Wealth LLC decreased its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 19.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 32,647 shares of the basic materials company’s stock after selling 7,660 shares during the quarter. NewEdge Wealth LLC’s holdings in Scotts Miracle-Gro were worth $2,166,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SMG. Creative Planning grew its stake in shares of Scotts Miracle-Gro by 5.2% in the 3rd quarter. Creative Planning now owns 8,275 shares of the basic materials company’s stock worth $717,000 after acquiring an additional 411 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Scotts Miracle-Gro by 83.6% in the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Scotts Miracle-Gro by 70.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,898 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 1,611 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Scotts Miracle-Gro by 90.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,512 shares of the basic materials company’s stock worth $129,000 after acquiring an additional 719 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Scotts Miracle-Gro by 18.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,874 shares of the basic materials company’s stock valued at $596,000 after buying an additional 1,066 shares during the period. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Price Performance

Shares of SMG opened at $58.56 on Friday. The firm’s 50 day simple moving average is $67.36 and its 200 day simple moving average is $73.97. The company has a market capitalization of $3.37 billion, a P/E ratio of -122.00 and a beta of 1.74. The Scotts Miracle-Gro Company has a 1-year low of $58.17 and a 1-year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.23) by $0.34. Scotts Miracle-Gro had a negative net margin of 0.67% and a negative return on equity of 51.48%. During the same period in the prior year, the company earned ($1.45) EPS. On average, equities analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.51%. The ex-dividend date of this dividend is Friday, February 21st. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -550.00%.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $77.14, for a total transaction of $38,570.00. Following the transaction, the insider now directly owns 13,553,274 shares of the company’s stock, valued at approximately $1,045,499,556.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian E. Sandoval sold 1,513 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $65.86, for a total transaction of $99,646.18. Following the transaction, the director now directly owns 13,039 shares in the company, valued at $858,748.54. This trade represents a 10.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 190,164 shares of company stock valued at $13,664,064. 25.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SMG shares. UBS Group reduced their price target on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Truist Financial cut 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 report on Friday, November 8th. JPMorgan Chase & Co. cut their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Wells Fargo & Company lowered their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Stifel Nicolaus increased their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Scotts Miracle-Gro presently has an average rating of “Hold” and an average price target of $75.83.

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.