Mitchell & Pahl Private Wealth LLC Boosts Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Mitchell & Pahl Private Wealth LLC boosted its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,954 shares of the basic materials company’s stock after purchasing an additional 584 shares during the quarter. Mitchell & Pahl Private Wealth LLC’s holdings in Scotts Miracle-Gro were worth $660,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SMG. Federated Hermes Inc. increased its holdings in shares of Scotts Miracle-Gro by 30.0% in the second quarter. Federated Hermes Inc. now owns 6,594 shares of the basic materials company’s stock worth $429,000 after purchasing an additional 1,520 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Scotts Miracle-Gro by 94.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 65,557 shares of the basic materials company’s stock valued at $4,265,000 after buying an additional 31,862 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Scotts Miracle-Gro by 4.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,944 shares of the basic materials company’s stock worth $251,000 after acquiring an additional 174 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Scotts Miracle-Gro by 35.6% during the 2nd quarter. Hsbc Holdings PLC now owns 87,925 shares of the basic materials company’s stock worth $5,687,000 after acquiring an additional 23,060 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Scotts Miracle-Gro during the 2nd quarter valued at approximately $1,037,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Price Performance

Scotts Miracle-Gro stock opened at $70.29 on Tuesday. The Scotts Miracle-Gro Company has a 1-year low of $53.43 and a 1-year high of $93.90. The company’s 50-day moving average is $71.64 and its 200 day moving average is $74.18.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date was Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SMG. UBS Group reduced their price target on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company reduced their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Stifel Nicolaus increased their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a report on Monday, November 4th. Jefferies Financial Group initiated coverage on Scotts Miracle-Gro in a research note on Monday, December 9th. They set a “hold” rating and a $72.00 price objective on the stock. Finally, Truist Financial decreased their price objective on 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. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $75.83.

Insider Activity at Scotts Miracle-Gro

In other news, COO Nathan Eric Baxter sold 11,359 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $75.37, for a total transaction of $856,127.83. Following the transaction, the chief operating officer now directly owns 51,631 shares of the company’s stock, valued at approximately $3,891,428.47. This trade represents a 18.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 500 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $77.14, for a total transaction of $38,570.00. Following the sale, the insider now directly owns 13,553,274 shares of the company’s stock, 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 sold a total of 58,227 shares of company stock worth $4,410,268 in the last quarter. 25.37% 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.