Y Intercept Hong Kong Ltd acquired a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) during the third quarter, according to its most recent filing with the SEC. The fund acquired 39,620 shares of the basic materials company's stock, valued at approximately $3,435,000. Y Intercept Hong Kong Ltd owned 0.07% of Scotts Miracle-Gro as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. XTX Topco Ltd increased its position in shares of Scotts Miracle-Gro by 48.8% during the third quarter. XTX Topco Ltd now owns 29,736 shares of the basic materials company's stock valued at $2,578,000 after buying an additional 9,752 shares during the period. Two Sigma Advisers LP increased its holdings in Scotts Miracle-Gro by 68.3% during the 3rd quarter. Two Sigma Advisers LP now owns 122,000 shares of the basic materials company's stock worth $10,577,000 after acquiring an additional 49,500 shares during the period. State Street Corp lifted its stake in Scotts Miracle-Gro by 1.1% in the 3rd quarter. State Street Corp now owns 1,432,565 shares of the basic materials company's stock worth $124,203,000 after purchasing an additional 15,869 shares in the last quarter. Stifel Financial Corp boosted its holdings in Scotts Miracle-Gro by 0.8% in the 3rd quarter. Stifel Financial Corp now owns 229,255 shares of the basic materials company's stock valued at $19,877,000 after purchasing an additional 1,754 shares during the period. Finally, RBF Capital LLC purchased a new position in shares of Scotts Miracle-Gro during the 3rd quarter valued at $2,601,000. Hedge funds and other institutional investors own 74.07% of the company's stock.
Insider Activity
In other news, major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $75.91, for a total value of $2,125,480.00. Following the sale, the insider now directly owns 13,553,774 shares in the company, valued at approximately $1,028,866,984.34. This trade represents a 0.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Hagedorn sold 18,368 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $75.68, for a total value of $1,390,090.24. Following the completion of the sale, the chief executive officer now directly owns 87,426 shares of the company's stock, valued at $6,616,399.68. The trade was a 17.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,868 shares of company stock valued at $3,554,140. Insiders own 26.46% of the company's stock.
Scotts Miracle-Gro Stock Down 1.4 %
Shares of Scotts Miracle-Gro stock traded down $1.03 during trading on Monday, reaching $74.44. The company's stock had a trading volume of 937,644 shares, compared to its average volume of 812,989. The company has a market cap of $4.27 billion, a price-to-earnings ratio of -107.88 and a beta of 1.71. The firm's 50-day moving average is $81.81 and its two-hundred day moving average is $73.55. The Scotts Miracle-Gro Company has a 52-week low of $53.43 and a 52-week high of $93.90.
Scotts Miracle-Gro Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Friday, November 22nd. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently -382.61%.
Analysts Set New Price Targets
Several research firms recently issued reports on SMG. Jefferies Financial Group started coverage on Scotts Miracle-Gro in a research note on Monday. They set a "hold" rating and a $72.00 price objective for the company. JPMorgan Chase & Co. dropped their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Truist Financial decreased their price objective on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a "hold" rating on the stock in a research report on Friday, November 8th. UBS Group lowered their target price on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Finally, Wells Fargo & Company cut their price target on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $77.50.
View Our Latest Stock Report on SMG
About Scotts Miracle-Gro
(
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.
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