Janney Montgomery Scott LLC Has $5.91 Million Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Janney Montgomery Scott LLC raised its holdings in The Scotts Miracle-Gro Company (NYSE:SMGFree Report) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,248 shares of the basic materials company’s stock after acquiring an additional 5,902 shares during the quarter. Janney Montgomery Scott LLC owned about 0.14% of Scotts Miracle-Gro worth $5,911,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Scotts Miracle-Gro by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,640,383 shares of the basic materials company’s stock valued at $239,815,000 after acquiring an additional 35,002 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Scotts Miracle-Gro by 1.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,183,932 shares of the basic materials company’s stock valued at $139,226,000 after purchasing an additional 25,863 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Scotts Miracle-Gro by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 545,258 shares of the basic materials company’s stock valued at $34,760,000 after purchasing an additional 18,975 shares during the period. Norges Bank bought a new position in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $27,699,000. Finally, International Assets Investment Management LLC raised its position in shares of Scotts Miracle-Gro by 4,927.1% in the fourth quarter. International Assets Investment Management LLC now owns 228,178 shares of the basic materials company’s stock valued at $14,546,000 after purchasing an additional 223,639 shares during the period. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Hagedorn Partnership, L.P. sold 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $69.67, for a total transaction of $2,159,770.00. Following the completion of the transaction, the director now owns 13,746,012 shares in the company, valued at $957,684,656.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 26.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SMG. Raymond James reissued a “market perform” rating on shares of Scotts Miracle-Gro in a research report on Monday, March 25th. 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. JPMorgan Chase & Co. boosted their target price on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Truist Financial lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and boosted their target price for the stock 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. According to data from MarketBeat, Scotts Miracle-Gro presently has a consensus rating of “Hold” and a consensus target price of $73.00.

View Our Latest Report on Scotts Miracle-Gro

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock opened at $61.10 on Wednesday. The firm has a market capitalization of $3.47 billion, a PE ratio of -9.79 and a beta of 1.76. The company’s fifty day moving average price is $66.57 and its two-hundred day moving average price is $65.11. The Scotts Miracle-Gro Company has a 52-week low of $43.67 and a 52-week high of $77.95.

Scotts Miracle-Gro (NYSE:SMGGet Free Report) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.33 by $0.36. Scotts Miracle-Gro had a negative net margin of 10.14% and a negative return on equity of 20.97%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company earned $3.78 EPS. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts predict that The Scotts Miracle-Gro Company will post 2.55 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 4.32%. The ex-dividend date was Thursday, May 23rd. Scotts Miracle-Gro’s payout ratio is -42.31%.

About Scotts Miracle-Gro

(Free Report)

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.

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

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