Interval Partners LP Lowers Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Interval Partners LP lowered its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 78.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,132 shares of the basic materials company’s stock after selling 375,414 shares during the period. Interval Partners LP owned about 0.18% of Scotts Miracle-Gro worth $6,710,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC raised its holdings in shares of Scotts Miracle-Gro by 135.2% in the 1st quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 192 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Scotts Miracle-Gro during the second quarter worth $25,000. Versant Capital Management Inc lifted its holdings in Scotts Miracle-Gro by 80.1% during the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after buying an additional 173 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of Scotts Miracle-Gro by 41.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 161 shares during the period. Finally, Abich Financial Wealth Management LLC raised its position in shares of Scotts Miracle-Gro by 11,216.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 679 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 673 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Price Performance

Shares of NYSE:SMG opened at $77.92 on Tuesday. The business’s 50-day moving average is $70.47 and its 200 day moving average is $68.81. The Scotts Miracle-Gro Company has a 1 year low of $43.67 and a 1 year high of $82.11. The firm has a market capitalization of $4.43 billion, a P/E ratio of -12.49 and a beta of 1.75.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.42. Scotts Miracle-Gro had a negative return on equity of 41.19% and a negative net margin of 7.38%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company posted $1.17 EPS. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts expect that The Scotts Miracle-Gro Company will post 2.62 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Friday, August 23rd were given a $0.66 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $2.64 dividend on an annualized basis and a yield of 3.39%. Scotts Miracle-Gro’s dividend payout ratio is currently -42.31%.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 960 shares of Scotts Miracle-Gro stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $77.95, for a total transaction of $74,832.00. Following the completion of the sale, the director now directly owns 22,940 shares in the company, valued at approximately $1,788,173. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Stephen L. Johnson sold 960 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $77.95, for a total transaction of $74,832.00. Following the completion of the transaction, the director now directly owns 22,940 shares in the company, valued at $1,788,173. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the completion of the sale, the insider now directly owns 13,608,238 shares in the company, valued at $965,232,321.34. The disclosure for this sale can be found here. Insiders have sold a total of 89,078 shares of company stock worth $6,325,042 over the last quarter. Insiders own 26.46% of the company’s stock.

Wall Street Analyst Weigh In

SMG has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $80.00.

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.