Fmr LLC Has $2.65 Million Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Fmr LLC lowered its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,610 shares of the basic materials company’s stock after selling 373 shares during the period. Fmr LLC’s holdings in Scotts Miracle-Gro were worth $2,654,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Scotts Miracle-Gro during the second quarter valued at $25,000. Global X Japan Co. Ltd. bought a new position in shares of Scotts Miracle-Gro during the third quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Scotts Miracle-Gro during the second quarter valued at $29,000. Farther Finance Advisors LLC raised its stake in shares of 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 acquiring an additional 269 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Scotts Miracle-Gro by 83.6% during the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Price Performance

NYSE SMG opened at $75.16 on Friday. The company’s 50 day simple moving average is $80.87 and its two-hundred day simple moving average is $73.74. The stock has a market capitalization of $4.31 billion, a PE ratio of -108.93 and a beta of 1.71. The Scotts Miracle-Gro Company has a 1 year low of $53.43 and a 1 year high of $93.90.

Scotts Miracle-Gro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

Analysts Set New Price Targets

SMG has been the subject of a number of analyst reports. Wells Fargo & Company lowered 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 note on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Truist Financial lowered their target price on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group initiated coverage on shares of Scotts Miracle-Gro in a research note on Monday, December 9th. They set a “hold” rating and a $72.00 target price for the company. Finally, Stifel Nicolaus lifted their target price on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.50.

Insider Activity at Scotts Miracle-Gro

In other news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $77.14, for a total value of $38,570.00. Following the completion of the sale, the insider now directly owns 13,553,274 shares of the company’s stock, valued at approximately $1,045,499,556.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Hagedorn sold 18,368 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $75.68, for a total transaction of $1,390,090.24. Following the completion of the sale, the chief executive officer now directly owns 87,426 shares of the company’s stock, valued at approximately $6,616,399.68. This represents a 17.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,227 shares of company stock valued at $4,410,268. Insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro 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.