Connecticut Wealth Management LLC Lowers Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Connecticut Wealth Management LLC trimmed its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 52.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,291 shares of the basic materials company’s stock after selling 4,807 shares during the period. Connecticut Wealth Management LLC’s holdings in Scotts Miracle-Gro were worth $274,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. TCG Advisory Services LLC purchased a new stake in Scotts Miracle-Gro in the 4th quarter valued at about $3,071,000. Vestmark Advisory Solutions Inc. boosted its position in Scotts Miracle-Gro by 2.6% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 33,866 shares of the basic materials company’s stock valued at $2,159,000 after buying an additional 843 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at about $245,000. Sapient Capital LLC bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at about $412,000. Finally, M&T Bank Corp bought a new stake in shares of Scotts Miracle-Gro in the 4th quarter valued at about $205,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Stock Performance

Shares of NYSE:SMG traded up $0.87 during trading on Monday, reaching $71.41. 260,710 shares of the stock were exchanged, compared to its average volume of 756,541. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -11.30 and a beta of 1.70. The Scotts Miracle-Gro Company has a 12-month low of $43.67 and a 12-month high of $77.95. The firm’s 50-day moving average price is $69.06 and its 200 day moving average price is $61.26.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.33 by $0.36. Scotts Miracle-Gro had a negative net margin of 10.14% and a negative return on equity of 20.97%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the business posted $3.78 EPS. The firm’s revenue was down .4% compared to the same quarter last year. As a group, equities research analysts forecast that The Scotts Miracle-Gro Company will post 2.65 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, May 23rd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -42.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SMG shares. Wells Fargo & Company reduced their price target on shares of Scotts Miracle-Gro from $85.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Raymond James reiterated a “market perform” rating on shares of Scotts Miracle-Gro in a research note on Monday, March 25th. Stifel Nicolaus boosted their target price on Scotts Miracle-Gro from $55.00 to $65.00 and gave the company a “hold” rating in a report on Monday, March 4th. Finally, StockNews.com raised shares of Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.00.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Stephen L. Johnson sold 1,394 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $57.35, for a total transaction of $79,945.90. Following the transaction, the director now directly owns 22,918 shares in the company, valued at approximately $1,314,347.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Stephen L. Johnson sold 1,394 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $57.35, for a total value of $79,945.90. Following the completion of the sale, the director now directly owns 22,918 shares of the company’s stock, valued at $1,314,347.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hagedorn Partnership, L.P. sold 86,356 shares of Scotts Miracle-Gro stock in a transaction on Monday, March 4th. The stock was sold at an average price of $65.41, for a total transaction of $5,648,545.96. Following the completion of the transaction, the director now directly owns 13,777,012 shares of the company’s stock, valued at approximately $901,154,354.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,750 shares of company stock valued at $6,604,492. 26.46% of the stock is currently owned by corporate insiders.

About Scotts Miracle-Gro

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.