Jacobs Levy Equity Management Inc. Grows Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Jacobs Levy Equity Management Inc. boosted its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 1,033.4% during the third quarter, Holdings Channel reports. The institutional investor owned 364,045 shares of the basic materials company’s stock after buying an additional 331,925 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Scotts Miracle-Gro were worth $31,563,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its holdings in shares of Scotts Miracle-Gro by 80.1% during the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 173 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in Scotts Miracle-Gro during the second quarter valued at approximately $25,000. Global X Japan Co. Ltd. purchased a new stake in Scotts Miracle-Gro during the third quarter worth approximately $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Scotts Miracle-Gro in the second quarter worth $29,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Scotts Miracle-Gro by 427.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 269 shares during the period. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on SMG shares. JPMorgan Chase & Co. dropped their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. UBS Group dropped 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 research note on Thursday, November 7th. Truist Financial decreased their target price on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, November 8th. Wells Fargo & Company dropped their price target on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Stifel Nicolaus upped their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $78.60.

Insider Activity

In related news, major shareholder Hagedorn Partnership, L.P. sold 500 shares of the stock in a transaction dated Monday, December 2nd. The shares were 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Stock Performance

SMG opened at $75.83 on Wednesday. The Scotts Miracle-Gro Company has a 1-year low of $53.43 and a 1-year high of $93.90. The company has a 50-day moving average of $82.62 and a 200-day moving average of $73.26. The company has a market capitalization of $4.35 billion, a P/E ratio of -109.90 and a beta of 1.71.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $0.66 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.64 annualized dividend and a dividend yield of 3.48%. Scotts Miracle-Gro’s payout ratio is -382.61%.

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.