Thrivent Financial for Lutherans Has $868,000 Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Thrivent Financial for Lutherans trimmed its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,012 shares of the basic materials company’s stock after selling 144 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Scotts Miracle-Gro were worth $868,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in shares of Scotts Miracle-Gro by 194.2% in the 2nd quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock worth $49,515,000 after purchasing an additional 502,353 shares during the period. International Assets Investment Management LLC grew 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 acquiring an additional 278,146 shares during the period. Retirement Systems of Alabama increased its holdings in shares of Scotts Miracle-Gro by 309.5% during the second quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company’s stock valued at $14,035,000 after acquiring an additional 163,037 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Scotts Miracle-Gro during the second quarter worth approximately $7,341,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Scotts Miracle-Gro by 567.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 77,424 shares of the basic materials company’s stock worth $5,037,000 after purchasing an additional 65,824 shares in the last quarter. 74.07% of the stock is owned by institutional investors.

Scotts Miracle-Gro Price Performance

Shares of SMG opened at $75.83 on Wednesday. The Scotts Miracle-Gro Company has a fifty-two week low of $53.43 and a fifty-two week high of $93.90. The business has a 50-day moving average of $82.62 and a 200 day moving average of $73.26.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -382.61%.

Analysts Set New Price Targets

SMG has been the topic of several research reports. JPMorgan Chase & Co. lowered 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 report on Thursday, November 7th. UBS Group decreased their price target on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th. Truist Financial cut their price target on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company lowered their price objective on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Stifel Nicolaus increased their target price 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, November 4th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $78.60.

Insider Activity at Scotts Miracle-Gro

In other news, 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 value of $38,570.00. Following 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 26.46% of the stock is currently owned by corporate insiders.

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.