Raymond James Financial Services Advisors Inc. Has $5.09 Million Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Raymond James Financial Services Advisors Inc. lessened its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 17.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,868 shares of the basic materials company's stock after selling 16,839 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.14% of Scotts Miracle-Gro worth $5,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SMG. Canada Pension Plan Investment Board acquired a new stake in shares of Scotts Miracle-Gro during the first quarter worth $27,000. Benjamin Edwards Inc. raised its position in shares of Scotts Miracle-Gro by 146.1% during the second quarter. Benjamin Edwards Inc. now owns 406 shares of the basic materials company's stock worth $25,000 after purchasing an additional 241 shares during the period. Resources Management Corp CT ADV raised its position in shares of Scotts Miracle-Gro by 2,025.0% during the second quarter. Resources Management Corp CT ADV now owns 425 shares of the basic materials company's stock worth $27,000 after purchasing an additional 405 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Scotts Miracle-Gro during the fourth quarter worth $47,000. Finally, Covestor Ltd raised its position in shares of Scotts Miracle-Gro by 144.1% during the first quarter. Covestor Ltd now owns 764 shares of the basic materials company's stock worth $94,000 after purchasing an additional 451 shares during the period. Institutional investors own 74.07% of the company's stock.

Scotts Miracle-Gro Stock Performance

Shares of SMG traded up $0.94 during trading hours on Friday, hitting $75.00. 736,738 shares of the company were exchanged, compared to its average volume of 777,610. The company has a market cap of $4.25 billion, a PE ratio of -10.65 and a beta of 1.70. The firm's 50 day moving average is $64.21 and its 200-day moving average is $58.35. The Scotts Miracle-Gro Company has a 52 week low of $43.67 and a 52 week high of $78.25.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its quarterly earnings results on Wednesday, February 7th. The basic materials company reported ($1.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.62) by $0.17. The company had revenue of $410.40 million during the quarter, compared to the consensus estimate of $412.83 million. Scotts Miracle-Gro had a negative return on equity of 44.37% and a negative net margin of 11.52%. The firm's revenue was down 22.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.02) EPS. As a group, equities analysts forecast 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 declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.66 per share. The ex-dividend date was Thursday, February 22nd. This represents a $2.64 annualized dividend and a dividend yield of 3.52%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently -37.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SMG shares. Raymond James reaffirmed a "market perform" rating on shares of Scotts Miracle-Gro in a research report on Monday, March 25th. StockNews.com raised Scotts Miracle-Gro from a "sell" rating to a "hold" rating in a research report on Thursday. JPMorgan Chase & Co. boosted their target price on Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday. Truist Financial lowered Scotts Miracle-Gro from a "buy" rating to a "hold" rating and upped their price target for the company from $65.00 to $75.00 in a research report on Friday. Finally, Stifel Nicolaus upped their price target on Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a "hold" rating in a research report on Monday, March 4th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Scotts Miracle-Gro has a consensus rating of "Hold" and an average price target of $70.00.

Insider Transactions at Scotts Miracle-Gro

In related news, Director Stephen L. Johnson sold 1,394 shares of the 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 approximately $1,314,347.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Stephen L. Johnson sold 1,394 shares of the 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 approximately $1,314,347.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hagedorn Partnership, L.P. sold 86,356 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $65.41, for a total value of $5,648,545.96. Following the sale, the director now owns 13,777,012 shares of the company's stock, valued at approximately $901,154,354.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,750 shares of company stock worth $6,604,492. 26.46% of the stock is owned by corporate insiders.

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.