Oppenheimer Asset Management Inc. Has $4.42 Million Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Oppenheimer Asset Management Inc. lowered its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,030 shares of the basic materials company’s stock after selling 884 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.09% of Scotts Miracle-Gro worth $4,424,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc raised its holdings in shares of 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 valued at $25,000 after acquiring an additional 173 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in Scotts Miracle-Gro during the second quarter valued at approximately $25,000. Global X Japan Co. Ltd. purchased a new position in Scotts Miracle-Gro during the third quarter valued at approximately $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Scotts Miracle-Gro during the second quarter valued at approximately $29,000. Finally, Farther Finance Advisors LLC grew its position in Scotts Miracle-Gro by 427.0% during the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 269 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SMG. JPMorgan Chase & Co. lowered their price objective on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Truist Financial lowered their price objective on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, November 8th. Stifel Nicolaus boosted their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. UBS Group lowered their price objective on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Finally, Wells Fargo & Company decreased their target price on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $78.60.

Insider Buying and Selling

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. This represents a 0.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Nathan Eric Baxter sold 2,988 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was 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 of the company’s stock, valued at approximately $2,689,665.60. This represents a 7.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.46% of the stock is owned by insiders.

Scotts Miracle-Gro Stock Down 0.1 %

SMG stock opened at $74.41 on Friday. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of -107.84 and a beta of 1.76. The Scotts Miracle-Gro Company has a 12 month low of $53.43 and a 12 month high of $93.90. The firm has a 50 day moving average of $81.31 and a two-hundred day moving average of $72.63.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

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.