Nisa Investment Advisors LLC Sells 2,250 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Nisa Investment Advisors LLC trimmed its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 7.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,480 shares of the basic materials company’s stock after selling 2,250 shares during the period. Nisa Investment Advisors LLC’s holdings in Scotts Miracle-Gro were worth $1,688,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of Scotts Miracle-Gro during the 1st quarter worth $27,000. Benjamin Edwards Inc. lifted its holdings in shares of Scotts Miracle-Gro by 146.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 406 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 241 shares during the last quarter. Resources Management Corp CT ADV lifted its holdings in shares of Scotts Miracle-Gro by 2,025.0% during the 2nd quarter. Resources Management Corp CT ADV now owns 425 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 405 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Scotts Miracle-Gro during the 4th quarter worth $47,000. Finally, Covestor Ltd lifted its holdings in shares of Scotts Miracle-Gro by 144.1% during the 1st quarter. Covestor Ltd now owns 764 shares of the basic materials company’s stock worth $94,000 after acquiring an additional 451 shares during the last quarter. 74.07% of the stock is owned by institutional investors.

Scotts Miracle-Gro Stock Performance

Shares of SMG opened at $69.44 on Monday. The stock has a market cap of $3.94 billion, a PE ratio of -9.86 and a beta of 1.70. The Scotts Miracle-Gro Company has a fifty-two week low of $43.67 and a fifty-two week high of $77.95. The firm’s 50-day simple moving average is $65.74 and its two-hundred day simple moving average is $59.18.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, February 7th. The basic materials company reported ($1.45) EPS for the quarter, beating analysts’ consensus estimates of ($1.62) by $0.17. Scotts Miracle-Gro had a negative net margin of 11.52% and a negative return on equity of 44.37%. The firm had revenue of $410.40 million for the quarter, compared to analysts’ expectations of $412.83 million. During the same quarter in the prior year, the company posted ($1.02) earnings per share. The business’s revenue for the quarter was down 22.1% on a year-over-year basis. Equities research analysts predict that The Scotts Miracle-Gro Company will post 2.69 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.80%. The ex-dividend date was Thursday, February 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently -37.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SMG shares. Raymond James reaffirmed a “market perform” rating on shares of Scotts Miracle-Gro in a report on Monday, March 25th. Truist Financial cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and lifted their target price for the stock from $65.00 to $75.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. lifted their target price on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Stifel Nicolaus lifted their target price on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Monday, March 4th. Finally, StockNews.com upgraded shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Scotts Miracle-Gro currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Insider Buying and Selling

In related news, Director Stephen L. Johnson sold 1,394 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total value of $79,945.90. Following the sale, the director now owns 22,918 shares in the company, valued at $1,314,347.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 15,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $58.40, for a total value of $876,000.00. Following the transaction, the insider now directly owns 13,881,368 shares in the company, valued at $810,671,891.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen L. Johnson sold 1,394 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total transaction of $79,945.90. Following the sale, the director now owns 22,918 shares in the company, valued at $1,314,347.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,750 shares of company stock worth $6,604,492. 26.46% of the stock is owned by insiders.

About Scotts Miracle-Gro

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.