The Scotts Miracle-Gro Company (NYSE:SMG) Stock Position Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund lessened its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 28.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 204,453 shares of the basic materials company’s stock after selling 81,591 shares during the period. New York State Common Retirement Fund owned approximately 0.36% of Scotts Miracle-Gro worth $17,726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SMG. Versant Capital Management Inc raised its stake in shares of Scotts Miracle-Gro by 80.1% in the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after buying an additional 173 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Scotts Miracle-Gro in the 2nd quarter worth $25,000. Global X Japan Co. Ltd. acquired a new stake in shares of Scotts Miracle-Gro during the third quarter worth $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Scotts Miracle-Gro during the second quarter worth $29,000. Finally, Blue Trust Inc. raised its position 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 worth $32,000 after purchasing an additional 168 shares during the period. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Up 2.2 %

NYSE:SMG opened at $93.52 on Wednesday. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of -19.77 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. The business’s fifty day moving average price is $80.28 and its 200 day moving average price is $72.19.

Scotts Miracle-Gro Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro’s payout ratio is -55.81%.

Insider Activity at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the company’s 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 transaction, the insider now directly owns 13,608,238 shares of the company’s stock, valued at approximately $965,232,321.34. 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 accessible through the SEC website. 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 stock was sold at an average price of $70.93, for a total value of $211,938.84. Following 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 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 $6,038,270.90. Following the completion of the transaction, the insider now owns 13,608,238 shares in the company, valued at $965,232,321.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 26.46% of the stock is owned by insiders.

Analysts Set New Price Targets

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