The Scotts Miracle-Gro Company (NYSE:SMG) Stock Holdings Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 212,790 shares of the basic materials company’s stock after selling 822 shares during the period. New York State Common Retirement Fund owned approximately 0.38% of Scotts Miracle-Gro worth $13,565,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Bruce G. Allen Investments LLC acquired a new stake in shares of Scotts Miracle-Gro during the 4th quarter valued at $47,000. Headlands Technologies LLC purchased a new stake in shares of Scotts Miracle-Gro during the third quarter valued at $52,000. Covestor Ltd boosted its position in shares of Scotts Miracle-Gro by 23.7% in the 3rd quarter. Covestor Ltd now owns 1,376 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 264 shares during the period. Global Retirement Partners LLC increased its stake in Scotts Miracle-Gro by 318.4% in the 4th quarter. Global Retirement Partners LLC now owns 1,686 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 1,283 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Scotts Miracle-Gro by 33.3% in the 3rd quarter. Signaturefd LLC now owns 1,988 shares of the basic materials company’s stock worth $103,000 after purchasing an additional 497 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Stock Up 1.0 %

NYSE SMG opened at $68.45 on Tuesday. The Scotts Miracle-Gro Company has a 1-year low of $43.67 and a 1-year high of $77.95. The firm’s fifty day simple moving average is $68.18 and its 200-day simple moving average is $60.70.

Scotts Miracle-Gro (NYSE:SMG) last issued its 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 return on equity of 44.37% and a negative net margin of 11.52%. The firm had revenue of $410.40 million for the quarter, compared to the consensus estimate of $412.83 million. During the same quarter in the previous year, the company posted ($1.02) earnings per share. The business’s quarterly revenue was down 22.1% compared to the same quarter last year. As a group, equities analysts anticipate that The Scotts Miracle-Gro Company will post 2.69 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.86%. The ex-dividend date is Thursday, May 23rd. Scotts Miracle-Gro’s payout ratio is presently -37.50%.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 86,356 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $65.41, for a total transaction of $5,648,545.96. Following the transaction, the director now owns 13,777,012 shares in the company, valued at approximately $901,154,354.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Stephen L. Johnson sold 1,394 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $57.35, for a total value of $79,945.90. Following the completion of the sale, the director now directly owns 22,918 shares in the company, valued at approximately $1,314,347.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Hagedorn Partnership, L.P. sold 86,356 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $65.41, for a total value of $5,648,545.96. Following the sale, the director now directly owns 13,777,012 shares of the company’s stock, valued at approximately $901,154,354.92. The disclosure for this sale can be found here. Insiders sold 102,750 shares of company stock worth $6,604,492 over the last ninety days. 26.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on SMG. Stifel Nicolaus raised their target price on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, March 4th. JPMorgan Chase & Co. lifted their price objective 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. StockNews.com raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Truist Financial cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating and raised their target price for the stock from $65.00 to $75.00 in a research report on Friday, April 5th. Finally, Raymond James reissued a “market perform” rating on shares of Scotts Miracle-Gro in a research note on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $70.00.

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.