561 Shares in The Scotts Miracle-Gro Company (NYSE:SMG) Bought by Frazier Financial Advisors LLC

Frazier Financial Advisors LLC purchased a new position in The Scotts Miracle-Gro Company (NYSE:SMG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 561 shares of the basic materials company’s stock, valued at approximately $36,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SMG. Lazard Asset Management LLC bought a new position in shares of Scotts Miracle-Gro during the third quarter valued at $28,336,000. Norges Bank bought a new position in shares of Scotts Miracle-Gro during the fourth quarter valued at $27,699,000. Financial Gravity Asset Management Inc. increased its holdings in shares of Scotts Miracle-Gro by 2,810.8% during the third quarter. Financial Gravity Asset Management Inc. now owns 313,548 shares of the basic materials company’s stock valued at $16,204,000 after acquiring an additional 302,776 shares in the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Scotts Miracle-Gro by 484.4% during the third quarter. Schonfeld Strategic Advisors LLC now owns 314,997 shares of the basic materials company’s stock valued at $16,279,000 after acquiring an additional 261,097 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Scotts Miracle-Gro by 62.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 595,995 shares of the basic materials company’s stock worth $30,801,000 after buying an additional 230,155 shares in the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Price Performance

Shares of SMG stock traded down $0.69 during trading hours on Thursday, reaching $65.09. 215,586 shares of the company traded hands, compared to its average volume of 752,515. The Scotts Miracle-Gro Company has a 12-month low of $43.67 and a 12-month high of $77.95. The company has a market cap of $3.70 billion, a P/E ratio of -10.65 and a beta of 1.70. The firm has a 50-day moving average price of $70.09 and a 200 day moving average price of $63.13.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.33 by $0.36. Scotts Miracle-Gro had a negative return on equity of 20.97% and a negative net margin of 10.14%. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm earned $3.78 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. Sell-side analysts predict that The Scotts Miracle-Gro Company will post 2.66 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.64 dividend on an annualized basis and a yield of 4.06%. Scotts Miracle-Gro’s dividend payout ratio is presently -42.31%.

Insider Buying and Selling

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 stock was sold at an average price of $69.67, for a total value of $2,159,770.00. Following the transaction, the director now directly owns 13,746,012 shares of the company’s stock, valued at approximately $957,684,656.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 132,356 shares of company stock valued at $8,684,316. Corporate insiders own 26.46% of the company’s stock.

Analyst Upgrades and Downgrades

SMG has been the subject of several research analyst reports. Raymond James reiterated a “market perform” rating on shares of Scotts Miracle-Gro in a report on Monday, March 25th. StockNews.com upgraded Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price objective on Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Stifel Nicolaus lifted their price objective on Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, March 4th. Finally, Truist Financial cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating and raised their target price for the stock from $65.00 to $75.00 in a research report on Friday, April 5th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.00.

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.