Quantinno Capital Management LP Trims Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Quantinno Capital Management LP lowered its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 20.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,218 shares of the basic materials company's stock after selling 22,040 shares during the quarter. Quantinno Capital Management LP owned about 0.15% of Scotts Miracle-Gro worth $7,562,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at approximately $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. purchased a new position in Scotts Miracle-Gro in the 2nd quarter valued at $29,000. Farther Finance Advisors LLC increased its stake in Scotts Miracle-Gro by 427.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company's stock valued at $29,000 after buying an additional 269 shares during the period. Finally, Blue Trust Inc. raised its position in Scotts Miracle-Gro by 83.6% during the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company's stock worth $32,000 after buying an additional 168 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SMG shares. Wells Fargo & Company lowered their target price on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Truist Financial dropped their target price 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. UBS Group reduced their price target 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. Stifel Nicolaus lifted their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a "hold" rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. cut their price objective 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. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $78.60.

Insider Activity

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $75.91, for a total transaction of $2,125,480.00. Following the sale, the insider now owns 13,553,774 shares in the company, valued at approximately $1,028,866,984.34. This 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 this link. Also, CEO James Hagedorn sold 18,368 shares of the business'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 transaction, the chief executive officer now directly owns 87,426 shares of the company's stock, valued at approximately $6,616,399.68. This trade represents a 17.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,868 shares of company stock worth $3,554,140 over the last 90 days. 26.46% of the stock is currently owned by corporate insiders.

Scotts Miracle-Gro Stock Down 0.0 %

Shares of SMG traded down $0.02 on Friday, reaching $75.47. The stock had a trading volume of 759,639 shares, compared to its average volume of 812,461. The Scotts Miracle-Gro Company has a twelve month low of $53.43 and a twelve month high of $93.90. The firm has a market capitalization of $4.33 billion, a PE ratio of -111.80 and a beta of 1.71. The firm has a 50-day moving average of $82.26 and a 200 day moving average of $73.35.

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.50%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro's dividend payout ratio (DPR) is -382.61%.

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.