Avantax Advisory Services Inc. Grows Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Avantax Advisory Services Inc. boosted its stake in The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,139 shares of the basic materials company’s stock after buying an additional 827 shares during the period. Avantax Advisory Services Inc.’s holdings in Scotts Miracle-Gro were worth $519,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SMG. JPMorgan Chase & Co. boosted its position in shares of Scotts Miracle-Gro by 1.2% during the 1st quarter. JPMorgan Chase & Co. now owns 98,971 shares of the basic materials company’s stock worth $12,170,000 after purchasing an additional 1,158 shares during the period. American Century Companies Inc. lifted its stake in Scotts Miracle-Gro by 16.4% during the 1st quarter. American Century Companies Inc. now owns 4,319 shares of the basic materials company’s stock worth $531,000 after acquiring an additional 609 shares in the last quarter. Cetera Advisor Networks LLC grew its position in Scotts Miracle-Gro by 33.2% in the 1st quarter. Cetera Advisor Networks LLC now owns 3,397 shares of the basic materials company’s stock valued at $418,000 after acquiring an additional 846 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Scotts Miracle-Gro by 27.8% in the first quarter. Citigroup Inc. now owns 6,684 shares of the basic materials company’s stock valued at $822,000 after purchasing an additional 1,452 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Scotts Miracle-Gro by 4,946.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,473 shares of the basic materials company’s stock valued at $304,000 after purchasing an additional 2,424 shares in the last quarter. Institutional investors and hedge funds own 68.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SMG shares. Raymond James reduced their target price on shares of Scotts Miracle-Gro from $100.00 to $56.00 and set a “strong-buy” rating on the stock in a report on Thursday, November 3rd. Truist Financial reduced their price objective on shares of Scotts Miracle-Gro from $85.00 to $50.00 in a report on Thursday, November 3rd. JPMorgan Chase & Co. lowered their target price on shares of Scotts Miracle-Gro from $80.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, November 3rd. StockNews.com initiated coverage on Scotts Miracle-Gro in a report on Wednesday, October 12th. They set a “sell” rating for the company. Finally, Stifel Nicolaus dropped their price objective on Scotts Miracle-Gro from $75.00 to $48.00 in a report on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.57.

Scotts Miracle-Gro Stock Up 2.9 %

Scotts Miracle-Gro stock opened at $64.15 on Tuesday. The company has a market capitalization of $3.56 billion, a P/E ratio of -8.08 and a beta of 1.49. The company has a debt-to-equity ratio of 19.13, a quick ratio of 0.66 and a current ratio of 2.06. The Scotts Miracle-Gro Company has a fifty-two week low of $39.06 and a fifty-two week high of $156.00. The stock has a 50-day simple moving average of $54.28 and a 200-day simple moving average of $59.97.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The basic materials company reported ($2.04) EPS for the quarter, missing the consensus estimate of ($2.02) by ($0.02). The firm had revenue of $493.60 million for the quarter, compared to analyst estimates of $527.42 million. Scotts Miracle-Gro had a positive return on equity of 38.78% and a negative net margin of 11.15%. Equities research analysts expect that The Scotts Miracle-Gro Company will post 3.61 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Monday, November 28th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Friday, November 25th. Scotts Miracle-Gro’s dividend payout ratio is currently -33.25%.

Insiders Place Their Bets

In other news, CEO James Hagedorn sold 50,000 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the sale, the chief executive officer now owns 212,402 shares in the company, valued at $12,907,669.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Scotts Miracle-Gro news, CEO James Hagedorn sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $60.77, for a total transaction of $3,038,500.00. Following the completion of the sale, the chief executive officer now directly owns 212,402 shares of the company’s stock, valued at approximately $12,907,669.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Peter E. Shumlin sold 750 shares of Scotts Miracle-Gro stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $56.94, for a total value of $42,705.00. Following the completion of the transaction, the director now owns 11,385 shares in the company, valued at $648,261.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,842 shares of company stock valued at $11,174,189. Insiders own 27.28% of the company’s stock.

Scotts Miracle-Gro Profile

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The Scotts Miracle-Gro Company is involved in the manufacture, marketing, and sale of 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, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products comprising water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and live goods and seeding solutions.

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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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