The Scotts Miracle-Gro Company (NYSE:SMG) Holdings Lowered by Raymond James & Associates

Raymond James & Associates decreased its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 550,831 shares of the basic materials company's stock after selling 8,282 shares during the period. Raymond James & Associates owned 0.97% of Scotts Miracle-Gro worth $47,757,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, Director Stephen L. Johnson sold 960 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was 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 of the company's stock, valued at $1,788,173. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Stephen L. Johnson sold 960 shares of the company's stock in a transaction dated 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 sale, the director now owns 22,940 shares of the company's stock, valued at $1,788,173. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the transaction, the insider now directly owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,078 shares of company stock worth $6,325,042. Insiders own 26.46% of the company's stock.

Scotts Miracle-Gro Price Performance

Scotts Miracle-Gro stock traded down $0.16 during midday trading on Wednesday, hitting $86.59. 328,091 shares of the company were exchanged, compared to its average volume of 800,462. The company's fifty day moving average price is $77.31 and its 200-day moving average price is $71.09. The Scotts Miracle-Gro Company has a fifty-two week low of $43.98 and a fifty-two week high of $91.09. The company has a market cap of $4.92 billion, a PE ratio of -13.94 and a beta of 1.76.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $2.31 EPS for the quarter, beating analysts' consensus estimates 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 period in the previous year, the firm posted $1.17 earnings per share. Scotts Miracle-Gro's quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts expect that The Scotts Miracle-Gro Company will post 2.62 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were issued a $0.66 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.05%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently -42.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SMG shares. Truist Financial increased their price target on shares of Scotts Miracle-Gro from $65.00 to $90.00 and gave the stock a "hold" rating in a research note on Wednesday, October 16th. Wells Fargo & Company lifted their target price on Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus raised their price objective on Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.