Stephens Inc. AR Has $410,000 Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Stephens Inc. AR boosted its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 7.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,724 shares of the basic materials company’s stock after purchasing an additional 318 shares during the period. Stephens Inc. AR’s holdings in Scotts Miracle-Gro were worth $410,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. bought a new position in Scotts Miracle-Gro during the third quarter valued at approximately $26,000. Blue Trust Inc. raised its position in 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 in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Scotts Miracle-Gro during the second quarter valued at approximately $25,000. Versant Capital Management Inc raised its position in Scotts Miracle-Gro by 80.1% during the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 173 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Scotts Miracle-Gro during the second quarter valued at approximately $29,000. Institutional investors own 74.07% of the company’s stock.

Insider Transactions at Scotts Miracle-Gro

In other news, COO Nathan Eric Baxter sold 2,988 shares of the firm’s stock in a transaction on 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 owns 37,920 shares in the company, valued at approximately $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Scotts Miracle-Gro news, COO Nathan Eric Baxter sold 2,988 shares of Scotts Miracle-Gro stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $211,938.84. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 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 transaction of $6,038,270.90. Following the sale, the insider now owns 13,608,238 shares in the company, valued at $965,232,321.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 26.46% of the stock is currently owned by corporate insiders.

Scotts Miracle-Gro Trading Down 20.5 %

Shares of Scotts Miracle-Gro stock opened at $74.30 on Thursday. The company’s fifty day simple moving average is $80.73 and its 200-day simple moving average is $72.38. The company has a market cap of $4.22 billion, a price-to-earnings ratio of -15.71 and a beta of 1.76. The Scotts Miracle-Gro Company has a 1 year low of $48.29 and a 1 year high of $93.90.

Scotts Miracle-Gro Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.64 annualized dividend and a dividend yield of 3.55%. Scotts Miracle-Gro’s payout ratio is -55.81%.

Analysts Set New Price Targets

A number of research firms have recently commented on SMG. Truist Financial lifted their price target on shares of Scotts Miracle-Gro from $65.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price target on shares of Scotts Miracle-Gro from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus lifted their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $85.25.

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.