Atria Investments Inc Cuts Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Atria Investments Inc trimmed its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,277 shares of the basic materials company’s stock after selling 2,077 shares during the quarter. Atria Investments Inc’s holdings in Scotts Miracle-Gro were worth $3,665,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SMG. Versant Capital Management Inc raised its holdings in Scotts Miracle-Gro by 80.1% in the second 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 during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Scotts Miracle-Gro in the 2nd quarter valued at approximately $25,000. Global X Japan Co. Ltd. purchased a new stake in Scotts Miracle-Gro during the 3rd quarter valued at $26,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Scotts Miracle-Gro in the 2nd quarter worth about $29,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Scotts Miracle-Gro by 427.0% in the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 269 shares during the period. 74.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SMG has been the subject of several research analyst reports. UBS Group cut their price objective on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. 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 note on Thursday, November 7th. JPMorgan Chase & Co. reduced their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus lifted their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Truist Financial reduced their price objective on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $78.60.

Scotts Miracle-Gro Price Performance

Shares of NYSE SMG opened at $73.58 on Wednesday. The Scotts Miracle-Gro Company has a 1 year low of $48.84 and a 1 year high of $93.90. The firm has a fifty day moving average price of $81.00 and a 200-day moving average price of $72.57. The stock has a market cap of $4.18 billion, a PE ratio of -106.64 and a beta of 1.76.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.64 annualized dividend and a dividend yield of 3.59%. Scotts Miracle-Gro’s payout ratio is -382.61%.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 85,130 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 value of $6,038,270.90. Following the sale, the insider now directly owns 13,608,238 shares in the company, valued at approximately $965,232,321.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Scotts Miracle-Gro news, COO Nathan Eric Baxter sold 2,988 shares of the firm’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 completion of the sale, the chief operating officer now owns 37,920 shares of the company’s stock, valued at $2,689,665.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly 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 disclosure for this sale can be found here. Corporate insiders own 26.46% of the company’s stock.

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.