NewEdge Advisors LLC Has $1.35 Million Position in The Scotts Miracle-Gro Company (NYSE:SMG)

NewEdge Advisors LLC boosted its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 177.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,673 shares of the basic materials company’s stock after buying an additional 13,209 shares during the period. NewEdge Advisors LLC’s holdings in Scotts Miracle-Gro were worth $1,345,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in SMG. Hexagon Capital Partners LLC lifted its stake in Scotts Miracle-Gro by 41.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 161 shares in the last quarter. Versant Capital Management Inc grew its position in Scotts Miracle-Gro by 80.1% in 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. Vanguard Personalized Indexing Management LLC lifted its position in shares of Scotts Miracle-Gro by 4.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,944 shares of the basic materials company’s stock worth $251,000 after buying an additional 174 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of Scotts Miracle-Gro by 25.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 854 shares of the basic materials company’s stock worth $56,000 after buying an additional 175 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Scotts Miracle-Gro by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 18,313 shares of the basic materials company’s stock valued at $1,167,000 after acquiring an additional 180 shares in the last quarter. Institutional investors own 74.07% of the company’s stock.

Insider Activity

In related news, Director Stephen L. Johnson sold 960 shares of Scotts Miracle-Gro stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $77.95, for a total value of $74,832.00. Following the completion of the transaction, the director now directly owns 22,940 shares in the company, valued at approximately $1,788,173. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Stephen L. Johnson sold 960 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $77.95, for a total value of $74,832.00. Following the completion of the transaction, the director now directly owns 22,940 shares in the company, valued at approximately $1,788,173. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the company’s 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 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. Insiders have sold a total of 89,078 shares of company stock valued at $6,325,042 over the last quarter. Company insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Trading Down 3.7 %

Scotts Miracle-Gro stock opened at $83.36 on Friday. The business’s 50 day simple moving average is $73.46 and its 200 day simple moving average is $69.89. The Scotts Miracle-Gro Company has a 12 month low of $43.67 and a 12 month high of $88.35. The company has a market cap of $4.74 billion, a price-to-earnings ratio of -13.36 and a beta of 1.76.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.42. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company earned $1.17 EPS. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts forecast that The Scotts Miracle-Gro Company will post 2.62 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.66 dividend. The ex-dividend date was Friday, August 23rd. This represents a $2.64 annualized dividend and a dividend yield of 3.17%. Scotts Miracle-Gro’s payout ratio is -42.31%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price target on Scotts Miracle-Gro from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their price target on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $80.00.

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.