3,180 Shares in The Scotts Miracle-Gro Company (NYSE:SMG) Acquired by IHT Wealth Management LLC

IHT Wealth Management LLC acquired a new position in The Scotts Miracle-Gro Company (NYSE:SMG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,180 shares of the basic materials company’s stock, valued at approximately $275,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SMG. Cetera Advisors LLC grew its stake in Scotts Miracle-Gro by 65.0% in the first quarter. Cetera Advisors LLC now owns 5,198 shares of the basic materials company’s stock worth $388,000 after purchasing an additional 2,048 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Scotts Miracle-Gro during the second quarter worth $379,000. Wealth Enhancement Advisory Services LLC lifted 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 buying an additional 2,081 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Scotts Miracle-Gro by 7.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 16,211 shares of the basic materials company’s stock worth $1,055,000 after buying an additional 1,170 shares during the period. Finally, Everpar Advisors LLC lifted its holdings in Scotts Miracle-Gro by 7.3% during the second quarter. Everpar Advisors LLC now owns 6,782 shares of the basic materials company’s stock worth $441,000 after buying an additional 463 shares during the period. Institutional investors own 74.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Scotts Miracle-Gro in a report on Monday. They set a “hold” rating and a $72.00 target price for the company. UBS Group lowered their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company decreased their price objective on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price objective on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Scotts Miracle-Gro has a consensus rating of “Hold” and a consensus price target of $77.50.

Scotts Miracle-Gro Trading Down 1.4 %

Shares of SMG opened at $74.44 on Tuesday. The firm has a market cap of $4.27 billion, a PE ratio of -107.88 and a beta of 1.71. The stock has a fifty day moving average price of $81.81 and a 200-day moving average price of $73.55. The Scotts Miracle-Gro Company has a 12 month low of $53.43 and a 12 month high of $93.90.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced 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 was Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a yield of 3.55%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is -382.61%.

Insider Buying and Selling

In related news, CEO James Hagedorn sold 18,368 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $75.68, for a total value of $1,390,090.24. Following the completion of the transaction, the chief executive officer now owns 87,426 shares in the company, valued at $6,616,399.68. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total value of $38,570.00. Following the completion of the transaction, the insider now owns 13,553,274 shares of the company’s stock, valued at $1,045,499,556.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,868 shares of company stock worth $3,554,140 in the last 90 days. Insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro 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.