CV Advisors LLC Makes New $385,000 Investment in The Scotts Miracle-Gro Company (NYSE:SMG)

CV Advisors LLC bought a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,800 shares of the basic materials company's stock, valued at approximately $385,000. Scotts Miracle-Gro makes up about 0.1% of CV Advisors LLC's investment portfolio, making the stock its 25th biggest position.

Other institutional investors have also recently made changes to their positions in the company. De Lisle Partners LLP purchased a new position in shares of Scotts Miracle-Gro during the 3rd quarter valued at approximately $10,162,000. Algert Global LLC increased its holdings in shares of Scotts Miracle-Gro by 202.2% during the 3rd quarter. Algert Global LLC now owns 25,140 shares of the basic materials company's stock valued at $2,180,000 after purchasing an additional 16,821 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Scotts Miracle-Gro by 19.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 3,134 shares of the basic materials company's stock valued at $208,000 after purchasing an additional 514 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Scotts Miracle-Gro by 5.0% during the 3rd quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company's stock valued at $275,082,000 after purchasing an additional 151,354 shares in the last quarter. Finally, Edgestream Partners L.P. increased its holdings in shares of Scotts Miracle-Gro by 63.5% during the 3rd quarter. Edgestream Partners L.P. now owns 56,337 shares of the basic materials company's stock valued at $4,884,000 after purchasing an additional 21,872 shares in the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Scotts Miracle-Gro Trading Down 1.0 %

SMG traded down $0.63 on Thursday, hitting $59.33. 838,172 shares of the company's stock were exchanged, compared to its average volume of 793,876. The Scotts Miracle-Gro Company has a fifty-two week low of $55.68 and a fifty-two week high of $93.90. The firm has a 50-day moving average price of $65.82 and a 200-day moving average price of $73.00. The stock has a market cap of $3.41 billion, a price-to-earnings ratio of -123.59 and a beta of 1.79.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm posted ($1.45) EPS. On average, equities analysts predict that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.64 annualized dividend and a dividend yield of 4.45%. Scotts Miracle-Gro's payout ratio is -550.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Stifel Nicolaus raised shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating and cut their price target for the stock from $78.00 to $70.00 in a report on Tuesday, March 4th. Wells Fargo & Company cut their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group assumed coverage on shares of Scotts Miracle-Gro in a report on Monday, December 9th. They issued a "hold" rating and a $72.00 price target for the company. Finally, UBS Group cut 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 report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Scotts Miracle-Gro presently has a consensus rating of "Hold" and an average target price of $74.00.

Insider Activity

In other news, EVP Christopher Hagedorn sold 3,568 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $71.50, for a total transaction of $255,112.00. Following the transaction, the executive vice president now owns 55,972 shares of the company's stock, valued at approximately $4,001,998. The trade was a 5.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian E. Sandoval sold 1,513 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $65.86, for a total transaction of $99,646.18. Following the completion of the sale, the director now owns 13,039 shares in the company, valued at approximately $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. In the last quarter, insiders have sold 159,937 shares of company stock valued at $11,379,275. 25.37% of the stock is currently owned by insiders.

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.