TCG Advisory Services LLC Buys New Shares in The Scotts Miracle-Gro Company (NYSE:SMG)

TCG Advisory Services LLC purchased a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 48,178 shares of the basic materials company's stock, valued at approximately $3,071,000. TCG Advisory Services LLC owned 0.09% of Scotts Miracle-Gro as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in Scotts Miracle-Gro during the 3rd quarter valued at approximately $28,336,000. Financial Gravity Asset Management Inc. lifted its holdings in shares of Scotts Miracle-Gro by 2,810.8% during the third quarter. Financial Gravity Asset Management Inc. now owns 313,548 shares of the basic materials company's stock worth $16,204,000 after purchasing an additional 302,776 shares during the period. Schonfeld Strategic Advisors LLC grew its position in Scotts Miracle-Gro by 484.4% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 314,997 shares of the basic materials company's stock valued at $16,279,000 after buying an additional 261,097 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Scotts Miracle-Gro by 62.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 595,995 shares of the basic materials company's stock valued at $30,801,000 after buying an additional 230,155 shares during the period. Finally, International Assets Investment Management LLC raised its position in Scotts Miracle-Gro by 4,927.1% during the 4th quarter. International Assets Investment Management LLC now owns 228,178 shares of the basic materials company's stock worth $14,546,000 after buying an additional 223,639 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on SMG shares. StockNews.com raised shares of Scotts Miracle-Gro from a "sell" rating to a "hold" rating in a report on Thursday, April 4th. Raymond James reaffirmed a "market perform" rating on shares of Scotts Miracle-Gro in a report on Monday, March 25th. Stifel Nicolaus increased their target price on Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a "hold" rating in a research note on Monday, March 4th. JPMorgan Chase & Co. lifted their price target on Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, April 5th. Finally, Truist Financial cut Scotts Miracle-Gro from a "buy" rating to a "hold" rating and increased their price objective for the stock from $65.00 to $75.00 in a research report on Friday, April 5th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Scotts Miracle-Gro presently has a consensus rating of "Hold" and an average price target of $72.57.

Insider Transactions at Scotts Miracle-Gro

In related 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 value of $79,945.90. Following the sale, the director now owns 22,918 shares of the company's stock, valued at approximately $1,314,347.30. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Hagedorn Partnership, L.P. sold 86,356 shares of the business's 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 completion of the transaction, the director now owns 13,777,012 shares of the company's stock, valued at $901,154,354.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen L. Johnson sold 1,394 shares of the stock in a transaction 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 directly owns 22,918 shares in the company, valued at approximately $1,314,347.30. The disclosure for this sale can be found here. Insiders sold a total of 102,750 shares of company stock valued at $6,604,492 in the last ninety days. Corporate insiders own 26.46% of the company's stock.

Scotts Miracle-Gro Stock Performance

SMG stock traded up $1.87 during midday trading on Friday, hitting $70.54. 937,423 shares of the stock were exchanged, compared to its average volume of 703,000. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -11.30 and a beta of 1.70. The Scotts Miracle-Gro Company has a fifty-two week low of $43.67 and a fifty-two week high of $77.95. The stock's 50-day moving average price is $69.06 and its 200-day moving average price is $61.11.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.36. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Scotts Miracle-Gro had a negative return on equity of 20.97% and a negative net margin of 10.14%. The business's revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.78 EPS. Research analysts anticipate that The Scotts Miracle-Gro Company will post 2.65 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be given a $0.66 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.64 annualized dividend and a dividend yield of 3.74%. Scotts Miracle-Gro's dividend payout ratio is presently -42.31%.

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.