1 week Ago By Defense World Staff
Prudential Financial Inc. trimmed its holdings in The Scotts Miracle-Gro Company (NYSE:SMG – Free Report) by 68.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC).
The firm owned 2,786 shares of the basic materials company’s stock after selling 6,092 shares during the quarter. Prudential Financial Inc.’s holdings in Scotts Miracle-Gro were worth $185,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of SMG. Atala Financial Inc purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth approximately $25,000. SBI Securities Co.
Ltd. purchased a new position in Scotts Miracle-Gro during the fourth quarter worth about $26,000. Tortoise Investment Management LLC boosted its holdings in Scotts Miracle-Gro by 77.
3% in the 4th quarter. Tortoise Investment Management LLC now owns 516 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 225 shares in the last quarter. Blue Trust Inc.
raised its stake in shares of Scotts Miracle-Gro by 68.3% during the 4th quarter. Blue Trust Inc.
now owns 621 shares of the basic materials company’s stock worth $41,000 after buying an additional 252 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Scotts Miracle-Gro in the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 74.
07% of the company’s stock. Scotts Miracle-Gro Stock PerformanceScotts Miracle-Gro stock opened at $51.11 on Friday.
The company has a market cap of $2.94 billion, a price-to-earnings ratio of -106.48 and a beta of 1.
96. The firm has a 50 day moving average price of $59.46 and a 200 day moving average price of $70.
69. The Scotts Miracle-Gro Company has a 1 year low of $46.45 and a 1 year high of $93.
90. Scotts Miracle-Gro (NYSE:SMG – Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The basic materials company reported ($0.
89) EPS for the quarter, topping 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 quarter last year, the firm earned ($1.45) earnings per share. Sell-side analysts predict that The Scotts Miracle-Gro Company will post 3.
42 EPS for the current year. Scotts Miracle-Gro Dividend AnnouncementThe firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were issued a dividend of $0.
66 per share. The ex-dividend date was Friday, February 21st. This represents a $2.
64 annualized dividend and a dividend yield of 5.17%. Scotts Miracle-Gro’s payout ratio is -550.
00%. Insider Activity at Scotts Miracle-GroIn other Scotts Miracle-Gro news, Director Brian E. Sandoval sold 1,513 shares of the stock in a transaction that occurred on Wednesday, February 12th.
The shares were sold at an average price of $65.86, for a total value of $99,646.18.
Following the completion of the sale, the director now owns 13,039 shares of the company’s stock, valued at $858,748.54. This trade represents a 10.
40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Hagedorn sold 3,568 shares of the company’s stock in a transaction on Thursday, January 30th.
The shares were sold at an average price of $71.50, for a total transaction of $255,112.00.
Following the completion of 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 disclosure for this sale can be found here. In the last three months, insiders sold 159,937 shares of company stock worth $11,379,275. Corporate insiders own 25.
37% of the company’s stock. Wall Street Analyst Weigh InSMG has been the subject of a number of recent analyst reports. UBS Group reduced their target price on Scotts Miracle-Gro from $77.
00 to $72.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating and decreased their target price for the stock from $78.
00 to $70.00 in a research report on Tuesday, March 4th. Truist Financial upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating and set a $70.
00 target price for the company in a report on Wednesday, April 2nd. Wells Fargo & Company reduced their price target on shares of Scotts Miracle-Gro from $80.00 to $70.
00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Finally, Jefferies Financial Group raised Scotts Miracle-Gro from a “hold” rating to a “buy” rating and reduced their target price for the company from $72.00 to $69.
00 in a research note on Monday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.
com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.83.View Our Latest Stock Report on Scotts Miracle-GroScotts Miracle-Gro Profile (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.Further ReadingFive stocks we like better than Scotts Miracle-GroThe 3 Best Retail Stocks to Shop for in AugustJPMorgan is a Buy, if You Can Handle The Volatility How to Capture the Benefits of Dividend IncreasesUnited States Steel’s Crash: An Unmissable Buying OpportunityHow to Short Nasdaq: An Easy-to-Follow GuideRocket Lab Stock: Weathering the Storm, Time for a Comeback?Want to see what other hedge funds are holding SMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Scotts Miracle-Gro Company (NYSE:SMG – Free Report).
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