The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC trimmed its holdings in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 27.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 21,947 shares of the basic materials company's stock after selling 8,448 shares during the quarter. HighTower Advisors LLC's holdings in Scotts Miracle-Gro were worth $1,914,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SMG. OLD National Bancorp IN lifted its holdings in Scotts Miracle-Gro by 2.7% in the 3rd quarter. OLD National Bancorp IN now owns 5,049 shares of the basic materials company's stock worth $438,000 after purchasing an additional 131 shares in the last quarter. Nicollet Investment Management Inc. increased its position in shares of Scotts Miracle-Gro by 1.1% during the 3rd quarter. Nicollet Investment Management Inc. now owns 12,845 shares of the basic materials company's stock valued at $1,114,000 after purchasing an additional 135 shares during the last quarter. Blue Trust Inc. increased its position in shares of Scotts Miracle-Gro by 83.6% during the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 168 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Scotts Miracle-Gro by 4.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,944 shares of the basic materials company's stock valued at $251,000 after purchasing an additional 174 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its position in shares of Scotts Miracle-Gro by 25.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 854 shares of the basic materials company's stock valued at $56,000 after purchasing an additional 175 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Stock Up 1.1 %

Scotts Miracle-Gro stock traded up $0.84 during midday trading on Friday, hitting $75.16. 679,257 shares of the company were exchanged, compared to its average volume of 685,080. 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 fifty day simple moving average of $80.87 and a two-hundred day simple moving average of $73.74.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.51%. The ex-dividend date was Friday, November 22nd. Scotts Miracle-Gro's payout ratio is currently -382.61%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SMG shares. Jefferies Financial Group started coverage on Scotts Miracle-Gro in a research report on Monday, December 9th. They issued a "hold" rating and a $72.00 price objective on the stock. Truist Financial cut their price objective on 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. JPMorgan Chase & Co. cut their price objective on Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. UBS Group cut their price objective on Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. Finally, Stifel Nicolaus upped their price objective on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $77.50.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00. Following the transaction, the insider now owns 13,553,274 shares in the company, valued at approximately $1,045,499,556.36. This trade 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 this link. Also, COO Nathan Eric Baxter sold 11,359 shares of Scotts Miracle-Gro stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $75.37, for a total value of $856,127.83. Following the transaction, the chief operating officer now owns 51,631 shares in the company, valued at approximately $3,891,428.47. The trade was a 18.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,227 shares of company stock valued at $4,410,268. Company 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.