TCG Advisory Services LLC Invests $3.07 Million in The Scotts Miracle-Gro Company (NYSE:SMG)

TCG Advisory Services LLC acquired a new stake in The Scotts Miracle-Gro Company (NYSE:SMG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 48,178 shares of the basic materials company’s stock, valued at approximately $3,071,000. TCG Advisory Services LLC owned approximately 0.09% of Scotts Miracle-Gro at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SMG. GAMMA Investing LLC purchased a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth approximately $29,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at $47,000. Headlands Technologies LLC purchased a new stake in shares of Scotts Miracle-Gro during the 3rd quarter worth $52,000. Covestor Ltd grew its stake in shares of Scotts Miracle-Gro by 23.7% during the third quarter. Covestor Ltd now owns 1,376 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 264 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Scotts Miracle-Gro by 826.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,482 shares of the basic materials company’s stock valued at $95,000 after buying an additional 1,322 shares during the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SMG. Wells Fargo & Company decreased their price target on Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday. Raymond James restated a “market perform” rating on shares of Scotts Miracle-Gro in a research note on Monday, March 25th. Stifel Nicolaus increased their price target on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Truist Financial cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and upped their target price for the company from $65.00 to $75.00 in a 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $72.57.

Scotts Miracle-Gro Trading Up 2.7 %

Shares of Scotts Miracle-Gro stock traded up $1.87 during trading on Friday, reaching $70.54. The company’s stock had a trading volume of 937,423 shares, compared to its average volume of 703,000. The company has a 50-day moving average price of $69.06 and a two-hundred day moving average price of $61.11. The Scotts Miracle-Gro Company has a fifty-two week low of $43.67 and a fifty-two week high of $77.95. The firm has a market cap of $4.00 billion, a PE ratio of -11.30 and a beta of 1.70.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.36. Scotts Miracle-Gro had a negative net margin of 10.14% and a negative return on equity of 20.97%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $3.78 earnings per share. Scotts Miracle-Gro’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts predict that The Scotts Miracle-Gro Company will post 2.65 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 24th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.74%. Scotts Miracle-Gro’s payout ratio is -42.31%.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, Director Stephen L. Johnson sold 1,394 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $57.35, for a total transaction of $79,945.90. Following the completion of the sale, the director now owns 22,918 shares in the company, valued at $1,314,347.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Hagedorn Partnership, L.P. sold 15,000 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $58.40, for a total value of $876,000.00. Following the completion of the sale, the insider now owns 13,881,368 shares in the company, valued at $810,671,891.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen L. Johnson sold 1,394 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $57.35, for a total value of $79,945.90. Following the transaction, the director now owns 22,918 shares in the company, valued at approximately $1,314,347.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,750 shares of company stock worth $6,604,492. 26.46% of the stock is currently owned by insiders.

Scotts Miracle-Gro 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.