Two Sigma Advisers LP Has $10.58 Million Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Two Sigma Advisers LP raised its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 68.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,000 shares of the basic materials company's stock after purchasing an additional 49,500 shares during the quarter. Two Sigma Advisers LP owned approximately 0.21% of Scotts Miracle-Gro worth $10,577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Scotts Miracle-Gro by 194.2% during the 2nd quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company's stock worth $49,515,000 after acquiring an additional 502,353 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Scotts Miracle-Gro by 1,033.4% during 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 purchasing an additional 331,925 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Scotts Miracle-Gro by 8,330.2% during the 3rd quarter. International Assets Investment Management LLC now owns 281,485 shares of the basic materials company's stock worth $24,405,000 after purchasing an additional 278,146 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Scotts Miracle-Gro by 228.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 252,798 shares of the basic materials company's stock worth $21,918,000 after purchasing an additional 175,719 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of Scotts Miracle-Gro by 309.5% during the 2nd quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company's stock worth $14,035,000 after purchasing an additional 163,037 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company's stock.

Scotts Miracle-Gro Price Performance

Shares of SMG traded down $0.70 during mid-day trading on Tuesday, reaching $73.74. The company had a trading volume of 511,753 shares, compared to its average volume of 811,723. The Scotts Miracle-Gro Company has a twelve month low of $53.43 and a twelve month high of $93.90. The company's 50-day moving average is $81.81 and its 200-day moving average is $73.55. The company has a market capitalization of $4.23 billion, a P/E ratio of -107.88 and a beta of 1.71.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were issued a $0.66 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.58%. Scotts Miracle-Gro's payout ratio is presently -382.61%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total value of $38,570.00. Following the transaction, the insider now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Nathan Eric Baxter sold 11,359 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $75.37, for a total value of $856,127.83. Following the completion of the transaction, the chief operating officer now owns 51,631 shares in the company, valued at $3,891,428.47. The trade was a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,227 shares of company stock worth $4,410,268 in the last three months. Insiders own 26.46% of the company's stock.

About Scotts Miracle-Gro

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.