Park Avenue Securities LLC Acquires 1,934 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Park Avenue Securities LLC grew its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 28.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,839 shares of the basic materials company’s stock after buying an additional 1,934 shares during the quarter. Park Avenue Securities LLC’s holdings in Scotts Miracle-Gro were worth $586,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Global X Japan Co. Ltd. bought a new stake in Scotts Miracle-Gro during the third quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Scotts Miracle-Gro during the 2nd quarter worth approximately $29,000. Farther Finance Advisors LLC boosted its holdings in shares of 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 last quarter. Blue Trust Inc. grew its stake in shares of 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 buying an additional 168 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Scotts Miracle-Gro during the third quarter worth $44,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Scotts Miracle-Gro Stock Up 0.5 %

Shares of NYSE:SMG opened at $71.41 on Thursday. The business has a 50 day moving average of $71.56 and a 200-day moving average of $74.22. The stock has a market cap of $4.10 billion, a PE ratio of -103.50 and a beta of 1.73. The Scotts Miracle-Gro Company has a 12-month low of $53.43 and a 12-month high of $93.90.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders 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 dividend yield of 3.70%. Scotts Miracle-Gro’s payout ratio is presently -382.61%.

Insiders Place Their Bets

In related news, CEO James Hagedorn sold 18,368 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $75.68, for a total transaction of $1,390,090.24. Following the completion of the transaction, the chief executive officer now directly owns 87,426 shares in the company, valued at $6,616,399.68. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $77.14, for a total transaction of $38,570.00. Following the sale, the insider now directly owns 13,553,274 shares in the company, valued at approximately $1,045,499,556.36. The trade was a 0.00 % 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 in the last quarter. 25.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Scotts Miracle-Gro in a research note on Monday, December 9th. They issued a “hold” rating and a $72.00 price target for the company. Stifel Nicolaus raised their target price 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. Wells Fargo & Company lowered their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. UBS Group cut their price objective on Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Truist Financial decreased their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 8th. 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, the company currently has a consensus rating of “Hold” and an average target price of $75.83.

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.