The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 661,072 shares of the basic materials company's stock after selling 16,901 shares during the quarter. Envestnet Asset Management Inc. owned about 1.15% of Scotts Miracle-Gro worth $43,855,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SMG. Atala Financial Inc purchased a new position in Scotts Miracle-Gro in the 4th quarter worth $25,000. SBI Securities Co. Ltd. bought a new position in shares of Scotts Miracle-Gro in the 4th quarter worth approximately $26,000. Tortoise Investment Management LLC lifted its position in Scotts Miracle-Gro by 77.3% during the fourth quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company's stock valued at $34,000 after buying an additional 225 shares during the period. Blue Trust Inc. boosted its stake in Scotts Miracle-Gro by 68.3% during the fourth quarter. Blue Trust Inc. now owns 621 shares of the basic materials company's stock worth $41,000 after acquiring an additional 252 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Scotts Miracle-Gro during the 3rd quarter valued at approximately $44,000. Institutional investors own 74.07% of the company's stock.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, Director Brian E. Sandoval sold 1,513 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $65.86, for a total transaction of $99,646.18. Following the sale, the director now owns 13,039 shares of the company's stock, valued at approximately $858,748.54. This trade represents a 10.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO James Hagedorn sold 142,733 shares of Scotts Miracle-Gro stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $71.56, for a total value of $10,213,973.48. Following the transaction, the chief executive officer now directly owns 88,310 shares in the company, valued at approximately $6,319,463.60. This trade represents a 61.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 159,937 shares of company stock worth $11,379,275 in the last quarter. 25.37% of the stock is owned by company insiders.

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Analysts Set New Price Targets

Several research firms recently commented on SMG. UBS Group dropped their price objective on 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. Jefferies Financial Group raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $72.00 to $69.00 in a research note on Monday, April 7th. Truist Financial upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and set a $70.00 price objective on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company decreased their price target on shares of Scotts Miracle-Gro from $70.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating and decreased their price target for the company from $78.00 to $70.00 in a report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Scotts Miracle-Gro currently has a consensus rating of "Moderate Buy" and an average target price of $71.00.

Scotts Miracle-Gro Stock Up 0.7 %

Shares of SMG stock traded up $0.38 on Wednesday, hitting $51.45. The company had a trading volume of 95,385 shares, compared to its average volume of 1,031,217. The Scotts Miracle-Gro Company has a twelve month low of $46.45 and a twelve month high of $93.90. The company has a 50-day moving average price of $58.76 and a 200-day moving average price of $70.23. The firm has a market cap of $2.96 billion, a P/E ratio of -107.19 and a beta of 1.96.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its earnings results on Wednesday, January 29th. The basic materials company reported ($0.89) 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 quarter in the previous year, the company earned ($1.45) earnings per share. Equities research analysts expect that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a $0.66 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.64 annualized dividend and a yield of 5.13%. Scotts Miracle-Gro's dividend payout ratio is presently -550.00%.

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.