Curbstone Financial Management Corp Sells 490 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Curbstone Financial Management Corp lessened its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 7.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,550 shares of the basic materials company’s stock after selling 490 shares during the period. Curbstone Financial Management Corp’s holdings in The Scotts Miracle-Gro were worth $1,605,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Berman Capital Advisors LLC boosted its holdings in shares of The Scotts Miracle-Gro by 88.3% during the 4th quarter. Berman Capital Advisors LLC now owns 145 shares of the basic materials company’s stock valued at $28,000 after buying an additional 68 shares in the last quarter. Vantage Consulting Group Inc bought a new stake in shares of The Scotts Miracle-Gro during the 4th quarter valued at $28,000. Motco bought a new stake in shares of The Scotts Miracle-Gro during the 4th quarter valued at $31,000. IFP Advisors Inc boosted its holdings in shares of The Scotts Miracle-Gro by 53.3% during the 4th quarter. IFP Advisors Inc now owns 164 shares of the basic materials company’s stock valued at $32,000 after buying an additional 57 shares in the last quarter. Finally, Albion Financial Group UT bought a new stake in shares of The Scotts Miracle-Gro during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 63.07% of the company’s stock.

In other news, CEO James Hagedorn sold 14,544 shares of the company’s stock in a transaction dated Thursday, February 4th. The shares were sold at an average price of $234.41, for a total transaction of $3,409,259.04. Also, EVP Denise Stump sold 2,418 shares of the company’s stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $244.00, for a total transaction of $589,992.00. Following the sale, the executive vice president now directly owns 8,062 shares of the company’s stock, valued at approximately $1,967,128. The disclosure for this sale can be found here. Insiders have sold a total of 82,784 shares of company stock worth $19,619,256 in the last 90 days. Company insiders own 27.17% of the company’s stock.

A number of equities analysts recently issued reports on SMG shares. William Blair reiterated an “outperform” rating on shares of The Scotts Miracle-Gro in a research note on Wednesday, February 3rd. Truist Financial upped their price target on shares of The Scotts Miracle-Gro from $250.00 to $270.00 in a research note on Thursday, February 4th. Truist upped their price target on shares of The Scotts Miracle-Gro from $180.00 to $250.00 in a research note on Thursday, January 7th. Finally, Raymond James upped their price target on shares of The Scotts Miracle-Gro from $274.00 to $290.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 4th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $228.00.

SMG traded up $0.29 during midday trading on Thursday, hitting $248.14. 672 shares of the company traded hands, compared to its average volume of 412,204. The company has a quick ratio of 0.63, a current ratio of 1.28 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $13.82 billion, a PE ratio of 36.40 and a beta of 1.13. The company’s 50-day moving average is $228.46 and its 200 day moving average is $197.61. The Scotts Miracle-Gro Company has a 52 week low of $101.27 and a 52 week high of $254.34.

The Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Tuesday, February 2nd. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.73) by $1.12. The business had revenue of $748.60 million for the quarter, compared to analysts’ expectations of $623.98 million. The Scotts Miracle-Gro had a net margin of 9.38% and a return on equity of 52.60%. The business’s revenue for the quarter was up 104.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.12) EPS. On average, sell-side analysts predict that The Scotts Miracle-Gro Company will post 8.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Wednesday, February 24th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Tuesday, February 23rd. The Scotts Miracle-Gro’s dividend payout ratio is currently 34.25%.

About The Scotts Miracle-Gro

The Scotts Miracle-Gro Company manufactures, markets, and sells consumer lawn and garden products in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It offers lawn care products, such as lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products.

Featured Article: Put Option Volume

Want to see what other hedge funds are holding SMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Scotts Miracle-Gro Company (NYSE:SMG).

Institutional Ownership by Quarter for The Scotts Miracle-Gro (NYSE:SMG)

Receive News & Ratings for The Scotts Miracle-Gro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Scotts Miracle-Gro and related companies with MarketBeat.com's FREE daily email newsletter.