Tidal Investments LLC Sells 1,013 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Tidal Investments LLC lessened its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 2.1% during the third quarter, Holdings Channel reports. The firm owned 47,764 shares of the basic materials company’s stock after selling 1,013 shares during the period. Tidal Investments LLC’s holdings in Scotts Miracle-Gro were worth $4,141,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SMG. SG Americas Securities LLC purchased a new position in Scotts Miracle-Gro during the 2nd quarter worth $379,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Scotts Miracle-Gro by 55.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,808 shares of the basic materials company’s stock worth $378,000 after purchasing an additional 2,081 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Scotts Miracle-Gro by 7.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 16,211 shares of the basic materials company’s stock worth $1,055,000 after purchasing an additional 1,170 shares in the last quarter. Raymond James & Associates increased its stake in Scotts Miracle-Gro by 0.7% in the 2nd quarter. Raymond James & Associates now owns 559,113 shares of the basic materials company’s stock valued at $36,376,000 after buying an additional 3,948 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Scotts Miracle-Gro by 6.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 29,530 shares of the basic materials company’s stock worth $1,921,000 after buying an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Up 1.1 %

Shares of NYSE:SMG opened at $75.16 on Friday. The firm has a market capitalization of $4.31 billion, a PE ratio of -108.93 and a beta of 1.71. The company has a 50-day moving average price of $80.87 and a two-hundred day moving average price of $73.74. The Scotts Miracle-Gro Company has a twelve month low of $53.43 and a twelve month high of $93.90.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a $0.66 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a yield of 3.51%. Scotts Miracle-Gro’s dividend payout ratio is -382.61%.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, COO Nathan Eric Baxter sold 11,359 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $75.37, for a total transaction of $856,127.83. Following the sale, the chief operating officer now owns 51,631 shares of the company’s stock, valued at approximately $3,891,428.47. This represents a 18.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $75.91, for a total transaction of $2,125,480.00. Following the completion of the transaction, the insider now directly owns 13,553,774 shares of the company’s stock, valued at approximately $1,028,866,984.34. The trade was a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,227 shares of company stock valued at $4,410,268 in the last 90 days. 26.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SMG has been the subject of a number of research analyst reports. Truist Financial decreased their price target on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Jefferies Financial Group began coverage on Scotts Miracle-Gro in a research report on Monday, December 9th. They set a “hold” rating and a $72.00 target price for the company. Stifel Nicolaus boosted their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Wells Fargo & Company decreased their price objective on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.50.

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.