Heritage Family Offices LLP Invests $227,000 in The Scotts Miracle-Gro Company (NYSE:SMG)

Heritage Family Offices LLP purchased a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) during the second quarter, HoldingsChannel reports. The fund purchased 3,487 shares of the basic materials company’s stock, valued at approximately $227,000.

A number of other hedge funds have also bought and sold shares of SMG. Rise Advisors LLC increased its position in Scotts Miracle-Gro by 135.2% during the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 192 shares during the period. Versant Capital Management Inc increased its position in Scotts Miracle-Gro by 80.1% during the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 173 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Scotts Miracle-Gro during the second quarter worth about $25,000. GAMMA Investing LLC bought a new position in Scotts Miracle-Gro during the fourth quarter worth about $29,000. Finally, Frazier Financial Advisors LLC bought a new position in Scotts Miracle-Gro during the fourth quarter worth about $36,000. 74.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SMG has been the topic of a number of recent research reports. Stifel Nicolaus raised their price target on shares of Scotts Miracle-Gro from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their target price on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Scotts Miracle-Gro has an average rating of “Hold” and an average target price of $76.00.

Insider Activity at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the sale, the insider now directly owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Nathan Eric Baxter sold 2,988 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $211,938.84. Following the sale, the chief operating officer now directly owns 37,920 shares in the company, valued at approximately $2,689,665.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the sale, the insider now owns 13,608,238 shares in the company, valued at $965,232,321.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,078 shares of company stock valued at $6,325,042. 26.46% of the stock is owned by insiders.

Scotts Miracle-Gro Stock Up 0.0 %

SMG stock opened at $71.05 on Friday. The firm has a market cap of $4.04 billion, a P/E ratio of -11.39 and a beta of 1.76. The company’s 50-day moving average price is $68.39 and its two-hundred day moving average price is $67.66. The Scotts Miracle-Gro Company has a 12 month low of $43.67 and a 12 month high of $82.11.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.42. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. Scotts Miracle-Gro had a negative net margin of 7.38% and a negative return on equity of 41.19%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 EPS. Equities analysts predict that The Scotts Miracle-Gro Company will post 2.61 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 23rd will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, August 23rd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -42.31%.

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.