The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by MML Investors Services LLC

MML Investors Services LLC lessened its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,543 shares of the basic materials company’s stock after selling 2,106 shares during the quarter. MML Investors Services LLC owned approximately 0.09% of Scotts Miracle-Gro worth $4,469,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SMG. Whittier Trust Co. of Nevada Inc. acquired a new stake in Scotts Miracle-Gro in the 2nd quarter worth about $25,000. Global X Japan Co. Ltd. purchased a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Scotts Miracle-Gro in the second quarter worth approximately $29,000. Farther Finance Advisors LLC grew its holdings in Scotts Miracle-Gro by 427.0% in the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 269 shares during the period. Finally, Blue Trust Inc. grew its holdings in Scotts Miracle-Gro by 83.6% in the third 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 period. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Up 1.2 %

Shares of SMG stock opened at $75.22 on Friday. The firm has a fifty day simple moving average of $80.87 and a 200-day simple moving average of $73.68. The company has a market capitalization of $4.32 billion, a PE ratio of -109.01 and a beta of 1.71. The Scotts Miracle-Gro Company has a twelve month low of $53.43 and a twelve month high of $93.90.

Scotts Miracle-Gro Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. UBS Group reduced their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Wells Fargo & Company dropped their price target on 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. Truist Financial dropped their target price on shares of 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. Finally, Stifel Nicolaus upped their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Scotts Miracle-Gro presently has an average rating of “Hold” and a consensus price target of $77.50.

Insider Activity

In other Scotts Miracle-Gro news, 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 transaction of $856,127.83. Following the transaction, the chief operating officer now directly owns 51,631 shares in the company, valued at $3,891,428.47. This represents a 18.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 13,553,774 shares of the company’s stock, valued at $1,028,866,984.34. The trade was a 0.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,227 shares of company stock worth $4,410,268 over the last ninety days. Corporate 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.