Jacobs Levy Equity Management Inc. Has $31.56 Million Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Jacobs Levy Equity Management Inc. lifted its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 1,033.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 364,045 shares of the basic materials company's stock after purchasing an additional 331,925 shares during the period. Jacobs Levy Equity Management Inc. owned 0.64% of Scotts Miracle-Gro worth $31,563,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. OLD National Bancorp IN boosted its position in Scotts Miracle-Gro by 2.7% in the third quarter. OLD National Bancorp IN now owns 5,049 shares of the basic materials company's stock valued at $438,000 after buying an additional 131 shares in the last quarter. Nicollet Investment Management Inc. boosted its position in Scotts Miracle-Gro by 1.1% in the third quarter. Nicollet Investment Management Inc. now owns 12,845 shares of the basic materials company's stock valued at $1,114,000 after buying an additional 135 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in Scotts Miracle-Gro by 41.3% in the second quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company's stock valued at $36,000 after buying an additional 161 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Scotts Miracle-Gro by 83.6% during the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 168 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Scotts Miracle-Gro by 80.1% during the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 173 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SMG has been the subject of several analyst reports. Truist Financial dropped their price target on shares of 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. Stifel Nicolaus raised their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a "hold" rating in a research note on Monday, November 4th. UBS Group dropped their price target on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating for the company in a research note on Thursday, November 7th. Wells Fargo & Company dropped 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. Finally, JPMorgan Chase & Co. lowered 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 research note on Thursday, November 7th. Five equities research 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 company currently has an average rating of "Hold" and a consensus price target of $78.60.

Insider Buying and Selling at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of Scotts Miracle-Gro stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $77.14, for a total value of $38,570.00. Following the completion of the sale, the insider now directly owns 13,553,274 shares of the company's stock, valued at approximately $1,045,499,556.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 26.46% of the company's stock.

Scotts Miracle-Gro Price Performance

NYSE SMG traded down $0.52 during mid-day trading on Wednesday, reaching $75.34. 156,545 shares of the stock were exchanged, compared to its average volume of 810,947. The Scotts Miracle-Gro Company has a one year low of $53.43 and a one year high of $93.90. The stock has a 50 day simple moving average of $82.51 and a 200-day simple moving average of $73.32. The stock has a market cap of $4.33 billion, a P/E ratio of -109.90 and a beta of 1.71.

Scotts Miracle-Gro Announces Dividend

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