Stonebridge Capital Management Inc. Buys Shares of 1,000 The Scotts Miracle-Gro Company (NYSE:SMG)


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Stonebridge Capital Management Inc. bought a new stake in The Scotts Miracle-Gro Company (NYSE:SMG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,000 shares of the basic materials company’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC lifted its stake in The Scotts Miracle-Gro by 15.8% in the 4th quarter. Capital Asset Advisory Services LLC now owns 5,923 shares of the basic materials company’s stock valued at $1,180,000 after acquiring an additional 806 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of The Scotts Miracle-Gro by 2.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 99,471 shares of the basic materials company’s stock worth $19,809,000 after purchasing an additional 2,153 shares in the last quarter. Assetmark Inc. raised its stake in shares of The Scotts Miracle-Gro by 12.6% during the 4th quarter. Assetmark Inc. now owns 3,466 shares of the basic materials company’s stock worth $690,000 after purchasing an additional 387 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of The Scotts Miracle-Gro by 6.0% during the 4th quarter. Wells Fargo & Company MN now owns 830,766 shares of the basic materials company’s stock worth $165,438,000 after purchasing an additional 46,945 shares in the last quarter. Finally, Calamos Advisors LLC bought a new stake in shares of The Scotts Miracle-Gro during the 4th quarter worth approximately $1,912,000. Hedge funds and other institutional investors own 63.07% of the company’s stock.

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

Shares of SMG stock traded up $2.66 during trading on Thursday, reaching $250.51. 1,066 shares of the company’s stock were exchanged, 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’s fifty day moving average price is $228.46 and its 200-day moving average price is $197.61. The Scotts Miracle-Gro Company has a twelve month low of $101.27 and a twelve month high of $254.34. The stock has a market capitalization of $13.95 billion, a PE ratio of 36.40 and a beta of 1.13.

The Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Tuesday, February 2nd. The basic materials company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $1.12. The Scotts Miracle-Gro had a return on equity of 52.60% and a net margin of 9.38%. The firm had revenue of $748.60 million for the quarter, compared to analyst estimates of $623.98 million. During the same period in the prior year, the firm posted ($1.12) EPS. The company’s revenue for the quarter was up 104.6% on a year-over-year basis. As a group, analysts anticipate that The Scotts Miracle-Gro Company will post 8.24 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Wednesday, February 24th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Tuesday, February 23rd. The Scotts Miracle-Gro’s dividend payout ratio is 34.25%.

In other news, EVP Denise Stump sold 2,418 shares of the company’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $244.00, for a total transaction of $589,992.00. Following the completion of the sale, the executive vice president now directly owns 8,062 shares in the company, valued at approximately $1,967,128. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James Hagedorn sold 14,544 shares of the company’s stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $234.41, for a total value of $3,409,259.04. Over the last ninety days, insiders sold 82,784 shares of company stock worth $19,619,256. Insiders own 27.17% of the company’s stock.

The Scotts Miracle-Gro Profile

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.

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

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