The Scotts Miracle-Gro Company (NYSE:SMG) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 427.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 332 shares of the basic materials company’s stock after purchasing an additional 269 shares during the quarter. Farther Finance Advisors LLC’s holdings in Scotts Miracle-Gro were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SMG. Stephens Inc. AR lifted its position in shares of Scotts Miracle-Gro by 7.2% during the third quarter. Stephens Inc. AR now owns 4,724 shares of the basic materials company’s stock worth $410,000 after purchasing an additional 318 shares during the last quarter. US Bancorp DE raised its stake in Scotts Miracle-Gro by 2.7% during the third quarter. US Bancorp DE now owns 42,149 shares of the basic materials company’s stock valued at $3,655,000 after buying an additional 1,116 shares in the last quarter. Financial Advocates Investment Management lifted its holdings in Scotts Miracle-Gro by 6.9% during the 3rd quarter. Financial Advocates Investment Management now owns 3,854 shares of the basic materials company’s stock worth $334,000 after buying an additional 250 shares during the last quarter. Pinnacle Associates Ltd. grew its position in shares of Scotts Miracle-Gro by 12.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 7,000 shares of the basic materials company’s stock worth $607,000 after acquiring an additional 800 shares in the last quarter. Finally, Avitas Wealth Management LLC increased its holdings in shares of Scotts Miracle-Gro by 1.4% in the 3rd quarter. Avitas Wealth Management LLC now owns 21,658 shares of the basic materials company’s stock valued at $1,878,000 after acquiring an additional 296 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Trading Down 0.1 %

SMG stock opened at $74.41 on Friday. The firm has a market cap of $4.23 billion, a PE ratio of -107.84 and a beta of 1.76. The Scotts Miracle-Gro Company has a 1 year low of $53.43 and a 1 year high of $93.90. The company has a fifty day simple moving average of $81.31 and a 200 day simple moving average of $72.63.

Scotts Miracle-Gro Announces Dividend

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 paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is -382.61%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SMG. Truist Financial reduced their price objective on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. JPMorgan Chase & Co. reduced 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 research report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company dropped their price objective on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, UBS Group decreased their target price 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. Five research 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 has an average rating of “Hold” and an average price target of $78.60.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the completion of the sale, the insider now directly owns 13,608,238 shares of the company’s stock, valued at $965,232,321.34. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Nathan Eric Baxter sold 2,988 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total value of $211,938.84. Following the completion of the sale, the chief operating officer now owns 37,920 shares of the company’s stock, valued at approximately $2,689,665.60. This trade represents a 7.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 26.46% of the company’s stock.

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.