The Scotts Miracle-Gro Company (NYSE:SMG) Stake Lowered by Trajan Wealth LLC

by · The Markets Daily

Trajan Wealth LLC reduced its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG – Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,994 shares of the basic materials company’s stock after selling 121 shares during the period. Trajan Wealth LLC’s holdings in Scotts Miracle-Gro were worth $260,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SMG. OLD National Bancorp IN boosted its holdings in Scotts Miracle-Gro by 2.7% in the third quarter. OLD National Bancorp IN now owns 5,049 shares of the basic materials company’s stock worth $438,000 after purchasing an additional 131 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Scotts Miracle-Gro by 41.3% in the second quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 161 shares in the last quarter. Blue Trust Inc. boosted its holdings in Scotts Miracle-Gro by 83.6% in the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Scotts Miracle-Gro by 80.1% in 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 in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Scotts Miracle-Gro by 4.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,944 shares of the basic materials company’s stock worth $251,000 after purchasing an additional 174 shares in the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Nathan Eric Baxter sold 2,988 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 transaction of $211,938.84. Following the completion of the transaction, the chief operating officer now owns 37,920 shares of the company’s stock, valued at approximately $2,689,665.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Nathan Eric Baxter sold 2,988 shares of the stock in a transaction dated 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 transaction, the chief operating officer now directly owns 37,920 shares of the company’s stock, valued at $2,689,665.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 26.46% of the stock is owned by company insiders.

Scotts Miracle-Gro Price Performance

Scotts Miracle-Gro stock opened at $88.46 on Thursday. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of -18.70 and a beta of 1.76. The Scotts Miracle-Gro Company has a fifty-two week low of $43.98 and a fifty-two week high of $91.09. The firm has a fifty day moving average price of $79.20 and a two-hundred day moving average price of $71.71.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SMG. Wells Fargo & Company upped their price objective 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 boosted their target price on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, Truist Financial boosted their target price on shares of Scotts Miracle-Gro from $65.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Scotts Miracle-Gro presently has an average rating of “Hold” and an average price target of $83.75.

Get Our Latest Report on Scotts Miracle-Gro

Scotts Miracle-Gro Profile

(Free Report)

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.

Further Reading

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