The Scotts Miracle-Gro Company $SMG Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 3.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 30,962 shares of the basic materials company’s stock after selling 1,237 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Scotts Miracle-Gro were worth $2,042,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SMG. GAMMA Investing LLC boosted its holdings in shares of Scotts Miracle-Gro by 31.6% in the 1st quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock valued at $89,000 after buying an additional 388 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Scotts Miracle-Gro by 21.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,819 shares of the basic materials company’s stock valued at $210,000 after buying an additional 685 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Scotts Miracle-Gro by 477.9% in the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company’s stock valued at $30,000 after buying an additional 454 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Scotts Miracle-Gro by 10.4% in the 1st quarter. DAVENPORT & Co LLC now owns 26,998 shares of the basic materials company’s stock valued at $1,482,000 after buying an additional 2,542 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in shares of Scotts Miracle-Gro by 2.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,826 shares of the basic materials company’s stock valued at $484,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Performance

Shares of Scotts Miracle-Gro stock opened at $53.95 on Thursday. The company has a market cap of $3.12 billion, a P/E ratio of 70.99 and a beta of 1.96. The Scotts Miracle-Gro Company has a one year low of $45.61 and a one year high of $93.90. The firm has a fifty day moving average of $58.43 and a two-hundred day moving average of $60.35.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $2.59 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.40. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. Scotts Miracle-Gro’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 EPS. As a group, equities analysts predict that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SMG shares. Truist Financial set a $80.00 target price on shares of Scotts Miracle-Gro and gave the company a “buy” rating in a report on Monday, July 14th. Jefferies Financial Group set a $71.00 price target on shares of Scotts Miracle-Gro in a research note on Friday, September 26th. UBS Group decreased their price target on shares of Scotts Miracle-Gro from $68.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday, October 2nd. Stifel Nicolaus decreased their price target on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating for the company in a research note on Monday, August 4th. Finally, Wall Street Zen cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.17.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the company’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $62.28, for a total transaction of $4,359,600.00. Following the completion of the transaction, the director owned 13,274,274 shares in the company, valued at approximately $826,721,784.72. This represents a 0.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark J. Scheiwer acquired 1,790 shares of the business’s stock in a transaction on Wednesday, September 3rd. The shares were purchased at an average price of $61.32 per share, with a total value of $109,762.80. Following the transaction, the executive vice president owned 10,130 shares in the company, valued at $621,171.60. The trade was a 21.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 25.37% of the stock is currently owned by corporate insiders.

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.