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Advisors Preferred LLC Purchases Shares of 10,617 The Scotts Miracle-Gro Company (NYSE:SMG)

Scotts Miracle-Gro logo with Basic Materials background

Advisors Preferred LLC purchased a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,617 shares of the basic materials company's stock, valued at approximately $698,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bleakley Financial Group LLC lifted its position in shares of Scotts Miracle-Gro by 2.1% during the 4th quarter. Bleakley Financial Group LLC now owns 16,429 shares of the basic materials company's stock valued at $1,090,000 after acquiring an additional 337 shares during the period. DAVENPORT & Co LLC lifted its position in Scotts Miracle-Gro by 9.7% in the 4th quarter. DAVENPORT & Co LLC now owns 24,456 shares of the basic materials company's stock valued at $1,622,000 after acquiring an additional 2,162 shares in the last quarter. Caprock Group LLC boosted its stake in Scotts Miracle-Gro by 16.1% during the 4th quarter. Caprock Group LLC now owns 3,046 shares of the basic materials company's stock valued at $202,000 after purchasing an additional 423 shares during the last quarter. Hunter Associates Investment Management LLC increased its holdings in Scotts Miracle-Gro by 8.1% during the 4th quarter. Hunter Associates Investment Management LLC now owns 25,982 shares of the basic materials company's stock worth $1,722,000 after purchasing an additional 1,950 shares in the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Scotts Miracle-Gro in the fourth quarter worth approximately $77,000. Institutional investors and hedge funds own 74.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Jefferies Financial Group began coverage on shares of Scotts Miracle-Gro in a report on Monday, December 9th. They set a "hold" rating and a $72.00 price objective on the stock. UBS Group dropped their price target on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. reduced their price objective 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. Stifel Nicolaus lifted their target price on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a "hold" rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company decreased their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $75.83.

Check Out Our Latest Stock Analysis on SMG

Scotts Miracle-Gro Trading Down 2.4 %

Shares of NYSE SMG traded down $1.61 during mid-day trading on Wednesday, hitting $65.97. The company had a trading volume of 990,711 shares, compared to its average volume of 714,165. The stock's 50-day moving average price is $69.81 and its 200-day moving average price is $74.72. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of -137.43 and a beta of 1.74. The Scotts Miracle-Gro Company has a 1 year low of $54.74 and a 1 year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, topping 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 business earned ($1.45) EPS. As a group, equities research analysts forecast that The Scotts Miracle-Gro Company will post 3.4 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be given a dividend of $0.66 per share. The ex-dividend date is Friday, February 21st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.00%. Scotts Miracle-Gro's dividend payout ratio (DPR) is currently -550.00%.

Insider Buying and Selling

In other news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of Scotts Miracle-Gro stock in a transaction 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 completion of the sale, the insider now directly owns 13,553,274 shares of the company's stock, valued at approximately $1,045,499,556.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christopher Hagedorn sold 3,568 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $71.50, for a total value of $255,112.00. Following the completion of the transaction, the executive vice president now directly owns 55,972 shares in the company, valued at approximately $4,001,998. This represents a 5.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,651 shares of company stock worth $15,689,897 over the last ninety days. 25.37% of the stock is owned by corporate insiders.

About Scotts Miracle-Gro

(Free Report)

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.

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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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