GAMMA Investing LLC Purchases 650 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

GAMMA Investing LLC lifted its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 112.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,226 shares of the basic materials company’s stock after buying an additional 650 shares during the quarter. GAMMA Investing LLC’s holdings in Scotts Miracle-Gro were worth $81,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SMG. Global X Japan Co. Ltd. bought a new stake in shares of Scotts Miracle-Gro in the 3rd quarter valued at $26,000. Farther Finance Advisors LLC increased its stake 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 in the last quarter. Blue Trust Inc. increased its stake 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth about $29,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth about $44,000. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Down 1.5 %

SMG stock opened at $66.26 on Friday. The Scotts Miracle-Gro Company has a 1-year low of $53.43 and a 1-year high of $93.90. The stock has a market cap of $3.81 billion, a P/E ratio of -96.03 and a beta of 1.73. The stock’s fifty day simple moving average is $72.84 and its two-hundred day simple moving average is $73.90.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.64 annualized dividend and a yield of 3.98%. Scotts Miracle-Gro’s payout ratio is currently -382.61%.

Analysts Set New Price Targets

A number of research firms recently weighed in on SMG. Jefferies Financial Group started coverage on Scotts Miracle-Gro in a research note on Monday, December 9th. They set a “hold” rating and a $72.00 price target on the stock. UBS Group dropped 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 decreased 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 Tuesday, January 7th. Stifel Nicolaus increased their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Truist Financial cut their price objective on shares of 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 issued a buy rating to the company. According to data from MarketBeat, Scotts Miracle-Gro has a consensus rating of “Hold” and a consensus target price of $76.67.

Insider Buying and Selling

In other news, COO Nathan Eric Baxter sold 11,359 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $75.37, for a total transaction of $856,127.83. Following the transaction, the chief operating officer now owns 51,631 shares of the company’s stock, valued at $3,891,428.47. This represents a 18.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of Scotts Miracle-Gro stock in a transaction dated 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 of the company’s stock, valued at approximately $1,028,866,984.34. This trade represents a 0.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,227 shares of company stock worth $4,410,268. Insiders own 25.37% 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.