Neo Ivy Capital Management Has $718,000 Stake in The Scotts Miracle-Gro Company (NYSE:SMG)

Neo Ivy Capital Management reduced its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 85.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,270 shares of the basic materials company’s stock after selling 48,286 shares during the period. Neo Ivy Capital Management’s holdings in Scotts Miracle-Gro were worth $718,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SMG. Scientech Research LLC bought a new stake in Scotts Miracle-Gro during the second quarter worth about $866,000. Retirement Systems of Alabama increased its holdings in Scotts Miracle-Gro by 309.5% during the second quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company’s stock worth $14,035,000 after buying an additional 163,037 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in Scotts Miracle-Gro by 2.2% during the second quarter. Deprince Race & Zollo Inc. now owns 672,556 shares of the basic materials company’s stock worth $43,756,000 after acquiring an additional 14,533 shares in the last quarter. AQR Capital Management LLC lifted its stake in Scotts Miracle-Gro by 194.2% in the second quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock valued at $49,515,000 after acquiring an additional 502,353 shares during the last quarter. Finally, De Lisle Partners LLP bought a new position in shares of Scotts Miracle-Gro in the 3rd quarter valued at about $10,162,000. 74.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, 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 completion of the transaction, the insider now owns 13,553,274 shares of the company’s stock, valued at approximately $1,045,499,556.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $856,127.83. Following the sale, the chief operating officer now owns 51,631 shares of the company’s stock, valued at approximately $3,891,428.47. This represents a 18.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,227 shares of company stock valued at $4,410,268 in the last ninety days. 26.46% of the stock is currently owned by company insiders.

Scotts Miracle-Gro Stock Performance

NYSE:SMG opened at $73.55 on Thursday. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of -106.59 and a beta of 1.71. The firm’s 50-day simple moving average is $81.28 and its 200 day simple moving average is $73.61. The Scotts Miracle-Gro Company has a 52 week low of $53.43 and a 52 week high of $93.90.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid 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 3.59%. Scotts Miracle-Gro’s payout ratio is -382.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SMG shares. Truist Financial dropped their target price 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. JPMorgan Chase & Co. cut their price objective on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Jefferies Financial Group initiated coverage on Scotts Miracle-Gro in a research note on Monday. They issued a “hold” rating and a $72.00 price target on the stock. UBS Group decreased their price objective on shares of 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 raised their target price on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Scotts Miracle-Gro presently has an average rating of “Hold” and a consensus target price of $77.50.

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.