The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lessened its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 11.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 34,603 shares of the basic materials company’s stock after selling 4,368 shares during the period. Bank of Montreal Can’s holdings in Scotts Miracle-Gro were worth $2,959,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in Scotts Miracle-Gro in the second quarter worth about $25,000. Global X Japan Co. Ltd. acquired a new stake in Scotts Miracle-Gro in the third quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Scotts Miracle-Gro in the second quarter worth about $29,000. Farther Finance Advisors LLC boosted 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 worth $29,000 after acquiring an additional 269 shares in the last quarter. Finally, Blue Trust Inc. boosted 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 worth $32,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial lowered their price target on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective on 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. UBS Group reduced their price objective on 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 reduced their price objective 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. Finally, Stifel Nicolaus raised their price objective on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $78.60.

Insider Activity at Scotts Miracle-Gro

In other news, major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $75.91, for a total value of $2,125,480.00. Following the completion of the sale, the insider now directly owns 13,553,774 shares in the company, valued at $1,028,866,984.34. The trade was a 0.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 26.46% of the stock is owned by company insiders.

Scotts Miracle-Gro Trading Up 0.1 %

Shares of SMG stock opened at $75.95 on Thursday. The stock has a 50 day moving average of $82.51 and a 200 day moving average of $73.32. The stock has a market cap of $4.36 billion, a P/E ratio of -110.07 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.48%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio 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.