The Scotts Miracle-Gro Company (NYSE:SMG) Shares Purchased by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. raised its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 21.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,748 shares of the basic materials company’s stock after buying an additional 310 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Scotts Miracle-Gro were worth $114,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Scotts Miracle-Gro during the 4th quarter worth about $27,699,000. Quest Partners LLC acquired a new stake in Scotts Miracle-Gro during the fourth quarter worth approximately $83,000. Hsbc Holdings PLC lifted its position in shares of Scotts Miracle-Gro by 400.9% during the 4th quarter. Hsbc Holdings PLC now owns 64,540 shares of the basic materials company’s stock worth $4,162,000 after buying an additional 51,656 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Scotts Miracle-Gro by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 18,313 shares of the basic materials company’s stock valued at $1,167,000 after buying an additional 180 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Scotts Miracle-Gro in the 4th quarter valued at $314,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Stock Performance

Shares of Scotts Miracle-Gro stock opened at $83.41 on Friday. The company’s fifty day moving average is $71.36 and its two-hundred day moving average is $69.08. The Scotts Miracle-Gro Company has a 1 year low of $43.67 and a 1 year high of $83.69. The company has a market capitalization of $4.74 billion, a P/E ratio of -13.37 and a beta of 1.75.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.42. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $1.17 earnings per share. As a group, equities analysts expect that The Scotts Miracle-Gro Company will post 2.62 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Friday, August 23rd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -42.31%.

Insider Buying and Selling

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the business’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 directly owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $6,038,270.90. Following the sale, the insider now owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen L. Johnson sold 960 shares of the business’s 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 transaction, the director now owns 22,940 shares in the company, valued at approximately $1,788,173. The disclosure for this sale can be found here. Insiders sold a total of 89,078 shares of company stock valued at $6,325,042 over the last three months. 26.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SMG shares. Stifel Nicolaus boosted their price target on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their target price on Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.00.

About Scotts Miracle-Gro

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.