Global Retirement Partners LLC Sells 532 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Global Retirement Partners LLC lowered its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 27.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,428 shares of the basic materials company’s stock after selling 532 shares during the quarter. Global Retirement Partners LLC’s holdings in Scotts Miracle-Gro were worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of SMG. Farther Finance Advisors LLC grew its holdings in shares of Scotts Miracle-Gro by 427.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 269 shares during the period. Blue Trust Inc. boosted its position in shares of Scotts Miracle-Gro by 83.6% during the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Scotts Miracle-Gro in the third quarter worth $44,000. Wilmington Savings Fund Society FSB bought a new position in Scotts Miracle-Gro in the third quarter worth $44,000. Finally, Brooklyn Investment Group bought a new position in Scotts Miracle-Gro in the third quarter worth $50,000. 74.07% of the stock is owned by institutional investors.

Scotts Miracle-Gro Stock Down 3.5 %

NYSE:SMG opened at $58.61 on Friday. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of -122.09 and a beta of 1.74. The company’s 50 day moving average price is $67.56 and its 200-day moving average price is $74.02. The Scotts Miracle-Gro Company has a 52 week low of $58.50 and a 52 week high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last released its quarterly earnings data on Wednesday, January 29th. The basic materials company reported ($0.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.23) by $0.34. Scotts Miracle-Gro had a negative return on equity of 51.48% and a negative net margin of 0.67%. During the same period in the previous year, the firm posted ($1.45) EPS. As a group, sell-side analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.64 annualized dividend and a dividend yield of 4.50%. Scotts Miracle-Gro’s payout ratio is -550.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SMG shares. Wells Fargo & Company reduced their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Truist Financial cut their price objective on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Jefferies Financial Group initiated coverage on shares of Scotts Miracle-Gro in a report on Monday, December 9th. They set a “hold” rating and a $72.00 target price for the company. JPMorgan Chase & Co. dropped their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Stifel Nicolaus raised their price objective on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Scotts Miracle-Gro currently has a consensus rating of “Hold” and an average price target of $75.83.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, EVP Christopher Hagedorn sold 3,568 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $71.50, for a total value of $255,112.00. Following the transaction, the executive vice president now owns 55,972 shares of the company’s stock, valued at $4,001,998. This trade represents a 5.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00. Following the sale, the insider now owns 13,553,274 shares in the company, valued at approximately $1,045,499,556.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 190,164 shares of company stock worth $13,664,064. Insiders own 25.37% of the company’s stock.

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.