8,595 Shares in The Scotts Miracle-Gro Company (NYSE:SMG) Acquired by Foguth Wealth Management LLC.

Foguth Wealth Management LLC. bought a new position in The Scotts Miracle-Gro Company (NYSE:SMG) during the 1st quarter, Holdings Channel.com reports. The institutional investor bought 8,595 shares of the basic materials company’s stock, valued at approximately $641,000.

Several other hedge funds have also modified their holdings of SMG. Treasurer of the State of North Carolina boosted its holdings in shares of Scotts Miracle-Gro by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 18,313 shares of the basic materials company’s stock valued at $1,167,000 after acquiring an additional 180 shares during the period. Rise Advisors LLC boosted its holdings in shares of Scotts Miracle-Gro by 135.2% during the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 192 shares during the period. Pinnacle Associates Ltd. boosted its holdings in shares of Scotts Miracle-Gro by 3.7% during the fourth quarter. Pinnacle Associates Ltd. now owns 7,000 shares of the basic materials company’s stock valued at $446,000 after acquiring an additional 250 shares during the period. Eagle Bay Advisors LLC boosted its holdings in shares of Scotts Miracle-Gro by 21.8% during the fourth quarter. Eagle Bay Advisors LLC now owns 1,991 shares of the basic materials company’s stock valued at $127,000 after acquiring an additional 357 shares during the period. Finally, Mariner LLC boosted its holdings in shares of Scotts Miracle-Gro by 3.3% during the third quarter. Mariner LLC now owns 11,700 shares of the basic materials company’s stock valued at $605,000 after acquiring an additional 371 shares during the period. 74.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, April 5th. StockNews.com raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Truist Financial downgraded shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating and upped their price objective for the stock from $65.00 to $75.00 in a report on Friday, April 5th. Stifel Nicolaus upped their price objective on shares of Scotts Miracle-Gro from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Monday, March 4th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Scotts Miracle-Gro in a report on Monday, March 25th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $73.00.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 31,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $69.67, for a total transaction of $2,159,770.00. Following the sale, the director now owns 13,746,012 shares in the company, valued at approximately $957,684,656.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Price Performance

Scotts Miracle-Gro stock traded down $1.79 during midday trading on Friday, hitting $65.06. The company’s stock had a trading volume of 1,844,064 shares, compared to its average volume of 1,017,922. The stock’s 50-day moving average price is $67.32 and its 200-day moving average price is $65.04. The Scotts Miracle-Gro Company has a 12 month low of $43.67 and a 12 month high of $77.95.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.33 by $0.36. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Scotts Miracle-Gro had a negative net margin of 10.14% and a negative return on equity of 20.97%. Scotts Miracle-Gro’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.78 earnings per share. As a group, sell-side analysts anticipate that The Scotts Miracle-Gro Company will post 2.56 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were issued a dividend of $0.66 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.64 annualized dividend and a yield of 4.06%. Scotts Miracle-Gro’s payout ratio is presently -42.31%.

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.