The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC decreased its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 66.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,895 shares of the basic materials company’s stock after selling 3,675 shares during the quarter. Truvestments Capital LLC’s holdings in Scotts Miracle-Gro were worth $141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rise Advisors LLC lifted its holdings in shares of Scotts Miracle-Gro by 135.2% during the first quarter. Rise Advisors LLC now owns 334 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 192 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Scotts Miracle-Gro in the fourth quarter worth about $29,000. Frazier Financial Advisors LLC acquired a new position in shares of Scotts Miracle-Gro in the fourth quarter worth about $36,000. Central Pacific Bank Trust Division purchased a new position in shares of Scotts Miracle-Gro in the first quarter worth approximately $72,000. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Scotts Miracle-Gro during the first quarter valued at approximately $87,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Wall Street Analyst Weigh In

SMG has been the topic of several research analyst reports. StockNews.com raised Scotts Miracle-Gro from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. upped their price target on shares of Scotts Miracle-Gro from $70.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Truist Financial cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating and lifted their price objective for the company from $65.00 to $75.00 in a research report on Friday, April 5th. Finally, Wells Fargo & Company dropped their target price on Scotts Miracle-Gro from $83.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $71.67.

Scotts Miracle-Gro Stock Performance

Shares of Scotts Miracle-Gro stock traded up $2.29 during midday trading on Friday, reaching $70.61. 1,076,704 shares of the company’s stock traded hands, compared to its average volume of 807,758. The company has a market cap of $4.01 billion, a price-to-earnings ratio of -11.32 and a beta of 1.76. The Scotts Miracle-Gro Company has a 52 week low of $43.67 and a 52 week high of $77.95. The company’s 50 day simple moving average is $65.85 and its 200 day simple moving average is $65.36.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.36. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.50 billion. Scotts Miracle-Gro had a negative return on equity of 20.97% and a negative net margin of 10.14%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $3.78 earnings per share. As a group, equities research analysts predict that The Scotts Miracle-Gro Company will post 2.55 earnings per share for the current year.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 31,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $69.67, for a total transaction of $2,159,770.00. Following the transaction, the director now owns 13,746,012 shares in the company, valued at $957,684,656.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 26.46% of the stock is owned by company insiders.

Scotts Miracle-Gro Company 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.