International Assets Investment Management LLC Grows Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

International Assets Investment Management LLC lifted its stake in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 8,330.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 281,485 shares of the basic materials company's stock after buying an additional 278,146 shares during the quarter. International Assets Investment Management LLC owned approximately 0.50% of Scotts Miracle-Gro worth $24,405,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Global X Japan Co. Ltd. bought a new stake in Scotts Miracle-Gro in the 3rd quarter worth approximately $26,000. Blue Trust Inc. raised its stake in Scotts Miracle-Gro by 83.6% during the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Scotts Miracle-Gro during the second quarter valued at $25,000. Versant Capital Management Inc grew its stake in shares of Scotts Miracle-Gro by 80.1% in the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company's stock worth $25,000 after buying an additional 173 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Scotts Miracle-Gro in the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 74.07% of the company's stock.

Scotts Miracle-Gro Stock Down 0.4 %

Scotts Miracle-Gro stock traded down $0.35 during midday trading on Tuesday, reaching $87.93. The stock had a trading volume of 542,774 shares, compared to its average volume of 792,649. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -18.59 and a beta of 1.76. The Scotts Miracle-Gro Company has a 52-week low of $43.98 and a 52-week high of $91.09. The company has a fifty day moving average of $78.85 and a 200 day moving average of $71.60.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The company's revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts predict that The Scotts Miracle-Gro Company will post 2.62 EPS for the current year.

Analyst Ratings Changes

SMG has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, August 1st. Truist Financial raised their price objective on Scotts Miracle-Gro from $65.00 to $90.00 and gave the company a "hold" rating in a research note on Wednesday, October 16th. Finally, Stifel Nicolaus lifted their target price 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 company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $83.75.

Insiders Place Their Bets

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of Scotts Miracle-Gro 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 completion of the sale, the insider now owns 13,608,238 shares in the company, valued at $965,232,321.34. This trade 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 other news, Director Stephen L. Johnson sold 960 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $77.95, for a total transaction of $74,832.00. Following the transaction, the director now owns 22,940 shares of the company's stock, valued at approximately $1,788,173. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm's 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 transaction, the insider now owns 13,608,238 shares in the company, 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 worth $6,325,042 over the last quarter. Company insiders own 26.46% of the company's stock.

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.