The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by Quarry LP

Quarry LP reduced its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 29.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,248 shares of the basic materials company’s stock after selling 522 shares during the period. Quarry LP’s holdings in Scotts Miracle-Gro were worth $108,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. AQR Capital Management LLC raised its stake in Scotts Miracle-Gro by 194.2% during the second quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock worth $49,515,000 after purchasing an additional 502,353 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of Scotts Miracle-Gro by 1,033.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 364,045 shares of the basic materials company’s stock worth $31,563,000 after buying an additional 331,925 shares during the period. International Assets Investment Management LLC boosted its holdings in Scotts Miracle-Gro by 8,330.2% in the third quarter. International Assets Investment Management LLC now owns 281,485 shares of the basic materials company’s stock valued at $24,405,000 after acquiring an additional 278,146 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Scotts Miracle-Gro by 228.0% in the third quarter. BNP Paribas Financial Markets now owns 252,798 shares of the basic materials company’s stock valued at $21,918,000 after acquiring an additional 175,719 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in Scotts Miracle-Gro by 309.5% during the second quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company’s stock valued at $14,035,000 after acquiring an additional 163,037 shares during the period. 74.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Scotts Miracle-Gro Trading Down 0.0 %

Shares of Scotts Miracle-Gro stock opened at $75.47 on Friday. The company has a fifty day moving average price of $82.05 and a 200 day moving average price of $73.43. The Scotts Miracle-Gro Company has a twelve month low of $53.43 and a twelve month high of $93.90. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -109.38 and a beta of 1.71.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a $0.66 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a yield of 3.50%. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, CEO James Hagedorn sold 18,368 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $75.68, for a total value of $1,390,090.24. Following the transaction, the chief executive officer now owns 87,426 shares in the company, valued at $6,616,399.68. The trade was a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00. Following the completion of the transaction, the insider now owns 13,553,274 shares in the company, valued at $1,045,499,556.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,868 shares of company stock worth $3,554,140 in the last quarter. 26.46% of the stock is owned by corporate insiders.

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.