Mutual of America Capital Management LLC Increases Stake in The Scotts Miracle-Gro Company (NYSE:SMG)

Mutual of America Capital Management LLC grew its holdings in The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) by 1.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,001 shares of the basic materials company’s stock after buying an additional 571 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Scotts Miracle-Gro were worth $4,550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SMG. Confluence Wealth Services Inc. purchased a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of Scotts Miracle-Gro by 84.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 212 shares of the basic materials company’s stock valued at $26,000 after buying an additional 97 shares in the last quarter. Ellevest Inc. increased its position in shares of Scotts Miracle-Gro by 74.7% in the first quarter. Ellevest Inc. now owns 276 shares of the basic materials company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. TAP Consulting LLC purchased a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $42,000. Finally, Covestor Ltd purchased a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $50,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Stock Performance

NYSE SMG opened at $83.18 on Tuesday. The stock’s fifty day moving average is $86.13 and its two-hundred day moving average is $113.47. The firm has a market capitalization of $4.61 billion, a P/E ratio of 11.68 and a beta of 1.23. The company has a debt-to-equity ratio of 3.44, a quick ratio of 1.13 and a current ratio of 2.21. The Scotts Miracle-Gro Company has a fifty-two week low of $72.58 and a fifty-two week high of $183.37.

Scotts Miracle-Gro (NYSE:SMGGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The basic materials company reported $5.03 earnings per share for the quarter, topping analysts’ consensus estimates of $4.69 by $0.34. Scotts Miracle-Gro had a return on equity of 42.22% and a net margin of 8.81%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the company posted $5.64 earnings per share. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, research analysts anticipate that The Scotts Miracle-Gro Company will post 4.73 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating and cut their price objective for the company from $185.00 to $85.00 in a research report on Wednesday, June 8th. StockNews.com lowered Scotts Miracle-Gro from a “hold” rating to a “sell” rating in a research note on Saturday, May 21st. Wells Fargo & Company lowered Scotts Miracle-Gro from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $115.00 to $85.00 in a research note on Wednesday, June 22nd. JPMorgan Chase & Co. lowered Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $130.00 to $95.00 in a research note on Thursday, June 9th. Finally, Stifel Nicolaus lowered their price target on Scotts Miracle-Gro from $116.00 to $93.00 in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Scotts Miracle-Gro presently has a consensus rating of “Hold” and an average price target of $115.88.

Insider Activity

In other news, Director Stephen L. Johnson sold 2,305 shares of the company’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $113.36, for a total value of $261,294.80. Following the transaction, the director now owns 20,233 shares of the company’s stock, valued at approximately $2,293,612.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP James D. King sold 17,500 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $98.42, for a total value of $1,722,350.00. Following the transaction, the executive vice president now owns 9,760 shares of the company’s stock, valued at approximately $960,579.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stephen L. Johnson sold 2,305 shares of the business’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $113.36, for a total value of $261,294.80. Following the completion of the sale, the director now owns 20,233 shares in the company, valued at approximately $2,293,612.88. The disclosure for this sale can be found here. Insiders have sold a total of 79,805 shares of company stock valued at $7,848,045 in the last quarter. Insiders own 27.31% of the company’s stock.

Scotts Miracle-Gro Profile

(Get Rating)

The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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