Xponance Inc. Sells 129 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)


Xponance Inc. trimmed its stake in The Scotts Miracle-Gro Company (NYSE:SMG – Get Rating) by 1.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,708 shares of the basic materials company’s stock after selling 129 shares during the period. Xponance Inc.’s holdings in Scotts Miracle-Gro were worth $1,071,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SMG. Tudor Investment Corp Et Al raised its stake in shares of Scotts Miracle-Gro by 226.0% in the 3rd quarter. Tudor Investment Corp Et Al now owns 20,256 shares of the basic materials company’s stock valued at $2,965,000 after acquiring an additional 14,043 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in shares of Scotts Miracle-Gro by 37.7% in the 3rd quarter. Cetera Advisor Networks LLC now owns 2,810 shares of the basic materials company’s stock valued at $411,000 after acquiring an additional 770 shares in the last quarter. IFP Advisors Inc increased its position in Scotts Miracle-Gro by 87.9% in the 4th quarter. IFP Advisors Inc now owns 1,150 shares of the basic materials company’s stock worth $187,000 after buying an additional 538 shares during the period. Stratos Wealth Partners LTD. increased its position in Scotts Miracle-Gro by 20.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,667 shares of the basic materials company’s stock worth $752,000 after buying an additional 779 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Scotts Miracle-Gro by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the basic materials company’s stock worth $1,691,000 after buying an additional 100 shares during the period. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have commented on SMG. Truist Financial downgraded Scotts Miracle-Gro from a “buy” rating to a “hold” rating and dropped their price target for the stock from $185.00 to $85.00 in a research report on Wednesday, June 8th. Stifel Nicolaus dropped their price target on Scotts Miracle-Gro from $116.00 to $93.00 in a research report on Tuesday, June 14th. StockNews.com downgraded Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research report on Saturday, May 21st. Raymond James dropped his price target on Scotts Miracle-Gro from $125.00 to $110.00 in a research report on Thursday, June 9th. Finally, JPMorgan Chase & Co. cut Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and lowered their price objectively for the company from $130.00 to $95.00 in a research report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $119.29.

Shares of SMG stock opened at $80.18 on Tuesday. The stock’s fifty day simple moving average is $92.04 and its 200 day simple moving average is $121.61. The company has a debt-to-equity ratio of 3.44, a current ratio of 2.21 and a quick ratio of 1.13. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 11.26 and a beta of 1.23. The Scotts Miracle-Gro Company has a one year low of $72.58 and a one year high of $191.99.

Scotts Miracle-Gro (NYSE:SMG – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The basic materials company reported $5.03 EPS for the quarter, beating the consensus estimate of $4.69 by $0.34. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. Scotts Miracle-Gro had a return on equity of 42.22% and a net margin of 8.81%. Scotts Miracle-Gro’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.64 EPS. On average, research analysts anticipate that The Scotts Miracle-Gro Company will post 4.73 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 27th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, May 26th. Scotts Miracle-Gro’s dividend payout ratio is 37.08%.

In other news, EVP James D. King sold 17,500 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $98.42, for a total transaction of $1,722,350.00. Following the transaction, the executive vice president now owns 9,760 shares of the company’s stock, valued at $960,579.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen L. Johnson sold 2,305 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $113.36, for a total value of $261,294.80. Following the transaction, the director now directly owns 20,233 shares in the company, valued at approximately $2,293,612.88. The disclosure for this sale can be found here. In the last three months, insiders sold 79,805 shares of company stock worth $7,848,045. Insiders own 27.31% of the company’s stock.

Scotts Miracle-Gro Company Profile (Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: US Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; Gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

Further Reading

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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)



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