Thrive Wealth Management LLC Purchases Shares of 2,444 The Scotts Miracle-Gro Company (NYSE:SMG)

Thrive Wealth Management LLC acquired a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,444 shares of the basic materials company’s stock, valued at approximately $212,000.

A number of other large investors have also made changes to their positions in SMG. Rise Advisors LLC increased its holdings in 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 buying an additional 192 shares during the period. Versant Capital Management Inc lifted its stake 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 purchasing an additional 173 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Scotts Miracle-Gro during the second quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Scotts Miracle-Gro in the 2nd quarter worth approximately $29,000. Finally, Hexagon Capital Partners LLC raised 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 worth $36,000 after buying an additional 161 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Performance

Scotts Miracle-Gro stock traded down $3.19 on Friday, reaching $83.36. The company’s stock had a trading volume of 759,655 shares, compared to its average volume of 818,820. The business’s fifty day moving average price is $73.46 and its 200 day moving average price is $69.89. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -13.36 and a beta of 1.76. The Scotts Miracle-Gro Company has a twelve month low of $43.67 and a twelve month high of $88.35.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.42. Scotts Miracle-Gro had a negative net margin of 7.38% and a negative return on equity of 41.19%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The company’s revenue was up 7.5% on a year-over-year basis. As a group, equities analysts forecast that The Scotts Miracle-Gro Company will post 2.62 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Friday, August 23rd were paid a $0.66 dividend. The ex-dividend date was Friday, August 23rd. This represents a $2.64 annualized dividend and a dividend yield of 3.17%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -42.31%.

Wall Street Analyst Weigh In

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

Insider Transactions at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of Scotts Miracle-Gro stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Nathan Eric Baxter sold 2,988 shares of Scotts Miracle-Gro stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $211,938.84. Following the completion of the sale, the chief operating officer now directly owns 37,920 shares of the company’s stock, valued at $2,689,665.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $6,038,270.90. Following the completion of the sale, the insider now owns 13,608,238 shares of the company’s stock, valued at $965,232,321.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,078 shares of company stock worth $6,325,042 over the last 90 days. 26.46% of the stock is owned by 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.