Monarch Capital Management Inc. Sells 430 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Monarch Capital Management Inc. lowered its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 2.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 20,353 shares of the basic materials company’s stock after selling 430 shares during the quarter. Monarch Capital Management Inc.’s holdings in Scotts Miracle-Gro were worth $1,350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of Scotts Miracle-Gro by 1.0% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,201,683 shares of the basic materials company’s stock worth $338,421,000 after acquiring an additional 49,262 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Scotts Miracle-Gro by 5.0% during the third quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company’s stock worth $275,082,000 after purchasing an additional 151,354 shares during the last quarter. Earnest Partners LLC grew its position in Scotts Miracle-Gro by 1.4% in the 2nd quarter. Earnest Partners LLC now owns 3,155,653 shares of the basic materials company’s stock worth $205,307,000 after purchasing an additional 42,500 shares in the last quarter. State Street Corp increased its stake in Scotts Miracle-Gro by 1.1% in the 3rd quarter. State Street Corp now owns 1,432,565 shares of the basic materials company’s stock valued at $124,203,000 after buying an additional 15,869 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Scotts Miracle-Gro by 6.8% during the 2nd quarter. Millennium Management LLC now owns 815,371 shares of the basic materials company’s stock worth $53,048,000 after buying an additional 52,136 shares in the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the 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 owns 13,553,274 shares in the company, valued at $1,045,499,556.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Nathan Eric Baxter sold 11,359 shares of Scotts Miracle-Gro stock in a transaction on Monday, December 9th. The shares were sold at an average price of $75.37, for a total value of $856,127.83. Following the completion of the transaction, the chief operating officer now owns 51,631 shares of the company’s stock, valued at approximately $3,891,428.47. This trade represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,227 shares of company stock worth $4,410,268 over the last quarter. Corporate insiders own 25.37% of the company’s stock.

Wall Street Analysts Forecast Growth

SMG has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company 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 Tuesday, January 7th. Truist Financial lowered 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. Stifel Nicolaus raised their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group initiated coverage on shares of Scotts Miracle-Gro in a research report on Monday, December 9th. They issued a “hold” rating and a $72.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Scotts Miracle-Gro currently has a consensus rating of “Hold” and a consensus price target of $75.83.

Scotts Miracle-Gro Stock Down 0.8 %

Shares of NYSE SMG opened at $70.29 on Friday. The business’s fifty day moving average price is $71.72 and its 200-day moving average price is $74.06. The Scotts Miracle-Gro Company has a one year low of $53.43 and a one year high of $93.90.

Scotts Miracle-Gro Dividend Announcement

The firm also recently announced 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 3.76%. Scotts Miracle-Gro’s dividend payout ratio is presently -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.