The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by Hilltop National Bank

by · The Markets Daily

Hilltop National Bank lessened its holdings in The Scotts Miracle-Gro Company (NYSE:SMG – Free Report) by 19.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 750 shares of the basic materials company’s stock after selling 180 shares during the period. Hilltop National Bank’s holdings in Scotts Miracle-Gro were worth $50,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Nordea Investment Management AB lifted its stake in Scotts Miracle-Gro by 4.6% during the 4th quarter. Nordea Investment Management AB now owns 219,532 shares of the basic materials company’s stock worth $14,439,000 after acquiring an additional 9,684 shares in the last quarter. GAMMA Investing LLC lifted its stake in Scotts Miracle-Gro by 112.8% during the 4th quarter. GAMMA Investing LLC now owns 1,226 shares of the basic materials company’s stock worth $81,000 after acquiring an additional 650 shares in the last quarter. Franklin Resources Inc. lifted its stake in Scotts Miracle-Gro by 13.9% during the 3rd quarter. Franklin Resources Inc. now owns 58,918 shares of the basic materials company’s stock worth $5,171,000 after acquiring an additional 7,206 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Scotts Miracle-Gro during the 3rd quarter worth about $44,000. Finally, Anchor Investment Management LLC lifted its stake in Scotts Miracle-Gro by 5,300.0% during the 3rd quarter. Anchor Investment Management LLC now owns 702 shares of the basic materials company’s stock worth $61,000 after acquiring an additional 689 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Analyst Ratings Changes

SMG has been the topic of several research reports. 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 research note on Friday, November 8th. Wells Fargo & Company cut their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday. Jefferies Financial Group began coverage on Scotts Miracle-Gro in a report on Monday, December 9th. They set a “hold” rating and a $72.00 price target on the stock. UBS Group cut their price target 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. Finally, Stifel Nicolaus upped their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $76.67.

Get Our Latest Stock Analysis on Scotts Miracle-Gro

Insiders Place Their Bets

In other news, COO Nathan Eric Baxter sold 11,359 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $75.37, for a total value of $856,127.83. Following the completion of the sale, the chief operating officer now directly owns 51,631 shares of the company’s stock, valued at $3,891,428.47. This trade represents a 18.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were 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 $1,028,866,984.34. This represents a 0.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,227 shares of company stock valued at $4,410,268. 25.37% of the stock is owned by company insiders.

Scotts Miracle-Gro Stock Down 1.5 %

NYSE:SMG opened at $66.26 on Friday. The stock’s 50 day moving average price is $73.31 and its 200 day moving average price is $73.85. The company has a market capitalization of $3.81 billion, a PE ratio of -96.03 and a beta of 1.73. The Scotts Miracle-Gro Company has a 52-week low of $53.43 and a 52-week high of $93.90.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders 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 dividend on an annualized basis and a yield of 3.98%. Scotts Miracle-Gro’s payout ratio is -382.61%.

Scotts Miracle-Gro Company Profile

(Free Report)

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.

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