The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by Vista Investment Partners LLC

Vista Investment Partners LLC lessened its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 81.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,567 shares of the basic materials company's stock after selling 11,577 shares during the period. Vista Investment Partners LLC's holdings in Scotts Miracle-Gro were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in Scotts Miracle-Gro by 72.6% in the 1st quarter. BNP Paribas Financial Markets now owns 42,928 shares of the basic materials company's stock valued at $3,202,000 after purchasing an additional 18,060 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Scotts Miracle-Gro by 18.4% in the first quarter. Nordea Investment Management AB now owns 230,616 shares of the basic materials company's stock valued at $17,218,000 after buying an additional 35,825 shares in the last quarter. Ontario Teachers Pension Plan Board grew its holdings in Scotts Miracle-Gro by 155.1% during the first quarter. Ontario Teachers Pension Plan Board now owns 37,172 shares of the basic materials company's stock worth $2,773,000 after acquiring an additional 22,599 shares during the period. Scientech Research LLC purchased a new position in Scotts Miracle-Gro in the second quarter worth $866,000. Finally, Retirement Systems of Alabama lifted its holdings in Scotts Miracle-Gro by 309.5% in the second quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company's stock valued at $14,035,000 after acquiring an additional 163,037 shares during the period. Hedge funds and other institutional investors own 74.07% of the company's stock.

Scotts Miracle-Gro Stock Performance

NYSE:SMG traded up $0.67 during mid-day trading on Friday, hitting $90.13. 440,879 shares of the company's stock traded hands, compared to its average volume of 806,210. The Scotts Miracle-Gro Company has a 1 year low of $43.67 and a 1 year high of $91.09. The company has a market cap of $5.12 billion, a PE ratio of -14.44 and a beta of 1.76. The firm's 50 day simple moving average is $76.57 and its 200 day simple moving average is $70.93.

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

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were given a $0.66 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $2.64 annualized dividend and a dividend yield of 2.93%. Scotts Miracle-Gro's dividend payout ratio is currently -42.31%.

Insider Activity at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the completion of the transaction, the insider now owns 13,608,238 shares of the company's stock, valued at approximately $965,232,321.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Nathan Eric Baxter sold 2,988 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $211,938.84. Following the sale, the chief operating officer now owns 37,920 shares in the company, valued at $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of Scotts Miracle-Gro stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the completion of the sale, the insider now directly owns 13,608,238 shares of the company's stock, valued at approximately $965,232,321.34. This 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. Insiders own 26.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SMG shares. Stifel Nicolaus increased their price target on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a "hold" rating in a report on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, August 1st. Finally, Truist Financial boosted their price target on Scotts Miracle-Gro from $65.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $83.75.

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.