The Scotts Miracle-Gro Company (NYSE:SMG) Stake Cut by Parthenon LLC

Parthenon LLC trimmed its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 5.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,775 shares of the basic materials company’s stock after selling 2,425 shares during the period. Parthenon LLC owned 0.07% of Scotts Miracle-Gro worth $3,535,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SMG. Price T Rowe Associates Inc. MD grew its holdings in shares of Scotts Miracle-Gro by 24.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,726,338 shares of the basic materials company’s stock valued at $203,359,000 after purchasing an additional 542,406 shares during the last quarter. AQR Capital Management LLC grew its stake in Scotts Miracle-Gro by 194.2% during the 2nd quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock worth $49,515,000 after buying an additional 502,353 shares during the last quarter. Earnest Partners LLC grew its stake in Scotts Miracle-Gro by 18.2% during the 1st quarter. Earnest Partners LLC now owns 3,113,153 shares of the basic materials company’s stock worth $232,210,000 after buying an additional 479,315 shares during the last quarter. Interval Partners LP increased its position in Scotts Miracle-Gro by 3,581.1% in the first quarter. Interval Partners LP now owns 478,546 shares of the basic materials company’s stock worth $35,695,000 after buying an additional 465,546 shares during the period. Finally, International Assets Investment Management LLC lifted its stake 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 buying an additional 278,146 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SMG has been the topic of a number of analyst reports. UBS Group dropped 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 report on Thursday, November 7th. Wells Fargo & Company dropped 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 note on Thursday, November 7th. JPMorgan Chase & Co. reduced their price objective on 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. Truist Financial decreased their price objective on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 8th. Finally, Stifel Nicolaus lifted their target price on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $78.60.

Insider Activity

In other Scotts Miracle-Gro news, COO Nathan Eric Baxter sold 2,988 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $211,938.84. Following the sale, the chief operating officer now directly owns 37,920 shares in the company, valued at approximately $2,689,665.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Nathan Eric Baxter sold 2,988 shares of Scotts Miracle-Gro stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total value of $211,938.84. Following the completion of the transaction, the chief operating officer now owns 37,920 shares in the company, valued at $2,689,665.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Price Performance

NYSE:SMG traded down $0.33 during midday trading on Wednesday, hitting $73.25. 81,434 shares of the stock were exchanged, compared to its average volume of 814,315. The Scotts Miracle-Gro Company has a one year low of $51.60 and a one year high of $93.90. The business has a 50-day moving average price of $81.00 and a two-hundred day moving average price of $72.57.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is presently -382.61%.

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.