GAMMA Investing LLC Invests $29,000 in The Scotts Miracle-Gro Company (NYSE:SMG)

GAMMA Investing LLC purchased a new position in The Scotts Miracle-Gro Company (NYSE:SMG) in the fourth quarter, Holdings Channel reports. The fund purchased 460 shares of the basic materials company’s stock, valued at approximately $29,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SMG. Bruce G. Allen Investments LLC bought a new position in Scotts Miracle-Gro during the fourth quarter valued at approximately $47,000. Headlands Technologies LLC bought a new position in Scotts Miracle-Gro during the third quarter valued at approximately $52,000. Covestor Ltd raised its position in Scotts Miracle-Gro by 23.7% during the third quarter. Covestor Ltd now owns 1,376 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 264 shares in the last quarter. Global Retirement Partners LLC raised its position in Scotts Miracle-Gro by 318.4% during the fourth quarter. Global Retirement Partners LLC now owns 1,686 shares of the basic materials company’s stock valued at $99,000 after acquiring an additional 1,283 shares in the last quarter. Finally, Signaturefd LLC raised its position in Scotts Miracle-Gro by 33.3% during the third quarter. Signaturefd LLC now owns 1,988 shares of the basic materials company’s stock valued at $103,000 after acquiring an additional 497 shares in the last quarter. Institutional investors own 74.07% of the company’s stock.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 1,394 shares of Scotts Miracle-Gro stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total transaction of $79,945.90. Following the sale, the director now owns 22,918 shares in the company, valued at $1,314,347.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Stephen L. Johnson sold 1,394 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total value of $79,945.90. Following the sale, the director now owns 22,918 shares in the company, valued at approximately $1,314,347.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 15,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $58.40, for a total transaction of $876,000.00. Following the completion of the sale, the insider now owns 13,881,368 shares in the company, valued at approximately $810,671,891.20. The disclosure for this sale can be found here. Insiders have sold 102,750 shares of company stock worth $6,604,492 over the last 90 days. Corporate insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Trading Up 1.2 %

Shares of Scotts Miracle-Gro stock opened at $71.42 on Tuesday. The company’s fifty day simple moving average is $69.06 and its 200-day simple moving average is $61.26. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -11.45 and a beta of 1.70. The Scotts Miracle-Gro Company has a 1 year low of $43.67 and a 1 year high of $77.95.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.36. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. Scotts Miracle-Gro had a negative net margin of 10.14% and a negative return on equity of 20.97%. Scotts Miracle-Gro’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $3.78 earnings per share. As a group, research analysts forecast that The Scotts Miracle-Gro Company will post 2.65 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.66 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.70%. Scotts Miracle-Gro’s dividend payout ratio is currently -42.31%.

Analyst Ratings Changes

Several equities analysts recently weighed in on SMG shares. Raymond James reaffirmed a “market perform” rating on shares of Scotts Miracle-Gro in a research report on Monday, March 25th. Stifel Nicolaus lifted their price target on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Monday, March 4th. Wells Fargo & Company dropped their price target on shares of Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. StockNews.com raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, Truist Financial lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and lifted their price target for the company from $65.00 to $75.00 in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $73.00.

Scotts Miracle-Gro 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.