Heritage Family Offices LLP Sells 267 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Heritage Family Offices LLP lessened its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,212 shares of the basic materials company’s stock after selling 267 shares during the period. Heritage Family Offices LLP’s holdings in Scotts Miracle-Gro were worth $213,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in Scotts Miracle-Gro by 194.2% in the second quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock valued at $49,515,000 after buying an additional 502,353 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in shares of Scotts Miracle-Gro by 1,033.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 364,045 shares of the basic materials company’s stock valued at $31,563,000 after purchasing an additional 331,925 shares in the last quarter. International Assets Investment Management LLC grew its stake in Scotts Miracle-Gro by 8,330.2% during the third quarter. International Assets Investment Management LLC now owns 281,485 shares of the basic materials company’s stock worth $24,405,000 after purchasing an additional 278,146 shares during the period. BNP Paribas Financial Markets increased 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 worth $21,918,000 after purchasing an additional 175,719 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in Scotts Miracle-Gro by 5.0% in the third quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company’s stock valued at $275,082,000 after buying an additional 151,354 shares during the period. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Up 0.1 %

Shares of NYSE SMG opened at $70.74 on Friday. The Scotts Miracle-Gro Company has a fifty-two week low of $53.43 and a fifty-two week high of $93.90. The firm’s 50-day simple moving average is $71.81 and its 200 day simple moving average is $73.96.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Friday, November 22nd. Scotts Miracle-Gro’s payout ratio is currently -382.61%.

Insider Transactions at Scotts Miracle-Gro

In related news, COO Nathan Eric Baxter sold 11,359 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,891,428.47. The trade was a 18.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $77.14, for a total transaction of $38,570.00. Following the completion of the sale, the insider now 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 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 currently owned by corporate insiders.

Analyst Ratings Changes

SMG has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. UBS Group decreased their price target on shares of Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday. JPMorgan Chase & Co. cut 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 decreased their target price on 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. Finally, Jefferies Financial Group began coverage on Scotts Miracle-Gro in a report on Monday, December 9th. They issued a “hold” rating and a $72.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.83.

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.