Tidal Investments LLC Has $3.56 Million Stake in The Scotts Miracle-Gro Company $SMG

Tidal Investments LLC boosted its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 20.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 52,304 shares of the basic materials company’s stock after buying an additional 9,004 shares during the quarter. Tidal Investments LLC’s holdings in Scotts Miracle-Gro were worth $3,562,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Baird Financial Group Inc. bought a new stake in shares of Scotts Miracle-Gro during the second quarter valued at approximately $427,000. Nykredit A S bought a new position in Scotts Miracle-Gro in the second quarter worth $194,000. Corient Private Wealth LP lifted its position in Scotts Miracle-Gro by 500.3% in the second quarter. Corient Private Wealth LP now owns 114,728 shares of the basic materials company’s stock worth $7,814,000 after purchasing an additional 95,616 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Scotts Miracle-Gro in the second quarter worth $204,000. Finally, California State Teachers Retirement System boosted its stake in Scotts Miracle-Gro by 6,349.5% during the second quarter. California State Teachers Retirement System now owns 3,485,529 shares of the basic materials company’s stock worth $237,399,000 after buying an additional 3,431,486 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 1,171 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $68.32, for a total transaction of $80,002.72. Following the sale, the director owned 30,179 shares of the company’s stock, valued at $2,061,829.28. This represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark D. Kingdon sold 831 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $61.65, for a total transaction of $51,231.15. Following the completion of the sale, the director owned 10,827 shares of the company’s stock, valued at $667,484.55. The trade was a 7.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 32,002 shares of company stock valued at $2,154,734 over the last ninety days. 24.40% of the stock is owned by insiders.

Scotts Miracle-Gro Price Performance

NYSE SMG opened at $55.95 on Tuesday. The stock’s 50 day simple moving average is $63.55 and its 200 day simple moving average is $63.23. The Scotts Miracle-Gro Company has a one year low of $52.00 and a one year high of $75.34. The firm has a market cap of $3.25 billion, a PE ratio of 48.65 and a beta of 1.83.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.34. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.17 billion. Scotts Miracle-Gro had a negative return on equity of 81.90% and a net margin of 2.19%.The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.59 EPS. As a group, equities analysts expect that The Scotts Miracle-Gro Company will post 4.41 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 4th. Stockholders of record on Friday, August 21st were paid a $0.66 dividend. The ex-dividend date was Friday, August 21st. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.7%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 229.57%.

Analyst Ratings Changes

Several equities research analysts have issued reports on SMG shares. UBS Group boosted their price target on shares of Scotts Miracle-Gro from $70.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Wells Fargo & Company raised their price objective on shares of Scotts Miracle-Gro from $74.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Friday, July 31st. Wall Street Zen lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Stifel Nicolaus raised their price target on shares of Scotts Miracle-Gro from $75.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $75.40.

Scotts Miracle-Gro Company Profile

Scotts Miracle-Gro Company is a manufacturer and marketer of branded consumer lawn and garden products. Founded in 1868 and headquartered in Marysville, Ohio, the company serves homeowners and gardening enthusiasts through products designed for growing, feeding, protecting and maintaining plants and lawns.

Its portfolio includes lawn fertilizers, grass seed, gardening soils, plant foods, weed and pest controls, and related gardening products. Well-known brands include Scotts, Miracle-Gro, Turf Builder, Ortho, Tomcat and Earthgro.