Geode Capital Management LLC Boosts Stake in The Scotts Miracle-Gro Company (NYSE:SMG)

Geode Capital Management LLC lifted its holdings in The Scotts Miracle-Gro Company (NYSE:SMGFree Report) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 708,558 shares of the basic materials company’s stock after purchasing an additional 14,730 shares during the period. Geode Capital Management LLC owned about 1.25% of Scotts Miracle-Gro worth $61,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of SMG. AQR Capital Management LLC increased its position in shares of 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 in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Scotts Miracle-Gro by 1,033.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 364,045 shares of the basic materials company’s stock worth $31,563,000 after acquiring an additional 331,925 shares in the last quarter. International Assets Investment Management LLC raised its position 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 acquiring an additional 278,146 shares during the period. BNP Paribas Financial Markets lifted its holdings in Scotts Miracle-Gro by 228.0% during the third quarter. BNP Paribas Financial Markets now owns 252,798 shares of the basic materials company’s stock valued at $21,918,000 after purchasing an additional 175,719 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in shares of Scotts Miracle-Gro by 309.5% in 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 purchasing an additional 163,037 shares during the period. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Up 1.8 %

Shares of SMG opened at $68.52 on Friday. The Scotts Miracle-Gro Company has a 52-week low of $53.43 and a 52-week high of $93.90. The stock has a fifty day simple moving average of $79.35 and a two-hundred day simple moving average of $73.81. The company has a market capitalization of $3.94 billion, a PE ratio of -99.30 and a beta of 1.71.

Scotts Miracle-Gro Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.66 per share. The ex-dividend date was Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.85%. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

Insider Activity

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of Scotts Miracle-Gro stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $75.91, for a total transaction of $2,125,480.00. Following the completion of the sale, the insider now directly owns 13,553,774 shares in the company, valued at $1,028,866,984.34. This trade represents a 0.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Nathan Eric Baxter sold 11,359 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $75.37, for a total transaction of $856,127.83. Following the completion of the transaction, the chief operating officer now owns 51,631 shares in the company, valued at approximately $3,891,428.47. This represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,227 shares of company stock valued at $4,410,268. 26.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on SMG shares. Jefferies Financial Group assumed coverage on shares of Scotts Miracle-Gro in a research note on Monday, December 9th. They issued a “hold” rating and a $72.00 price target on the stock. Truist Financial lowered their price target on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company dropped their price target on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Stifel Nicolaus upped their target price on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Scotts Miracle-Gro currently has a consensus rating of “Hold” and a consensus price target of $77.50.

Read Our Latest Research Report on SMG

Scotts Miracle-Gro Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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