The Scotts Miracle-Gro Company (NYSE:SMG) Short Interest Down 21.2% in December

The Scotts Miracle-Gro Company (NYSE:SMG) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 3,500,000 shares, a decrease of 21.2% from the December 15th total of 4,440,000 shares. Based on an average daily trading volume, of 743,900 shares, the short-interest ratio is presently 4.7 days. Currently, 8.1% of the shares of the stock are short sold.

Scotts Miracle-Gro Price Performance

Shares of Scotts Miracle-Gro stock traded down $0.56 on Friday, reaching $70.29. The company had a trading volume of 487,342 shares, compared to its average volume of 505,904. The firm’s 50-day moving average price is $71.77 and its two-hundred day moving average price is $73.94. Scotts Miracle-Gro has a 1 year low of $53.43 and a 1 year high of $93.90. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of -101.87 and a beta of 1.73.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

Analyst Upgrades and Downgrades

SMG has been the subject of several research reports. Stifel Nicolaus increased their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a report on Monday, November 4th. UBS Group dropped their price target on Scotts Miracle-Gro from $77.00 to $72.00 and set a “neutral” rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Truist Financial lowered their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research report on Friday, November 8th. Finally, Wells Fargo & Company 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 Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $75.83.

Insider Buying and Selling

In other news, CEO James Hagedorn sold 18,368 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $75.68, for a total value of $1,390,090.24. Following the transaction, the chief executive officer now owns 87,426 shares of the company’s stock, valued at approximately $6,616,399.68. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $856,127.83. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,227 shares of company stock valued at $4,410,268. Company insiders own 25.37% of the company’s stock.

Hedge Funds Weigh In On Scotts Miracle-Gro

Large investors have recently made changes to their positions in the company. Global X Japan Co. Ltd. bought a new stake in Scotts Miracle-Gro in the third quarter worth about $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Scotts Miracle-Gro in the second quarter worth approximately $29,000. Farther Finance Advisors LLC lifted its stake in shares of Scotts Miracle-Gro by 427.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 269 shares during the last quarter. Blue Trust Inc. boosted its holdings in Scotts Miracle-Gro by 83.6% during the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in Scotts Miracle-Gro in the 3rd quarter valued at $44,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Company 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.