Oppenheimer Asset Management Inc. Has $4.42 Million Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Oppenheimer Asset Management Inc. reduced its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 51,030 shares of the basic materials company’s stock after selling 884 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Scotts Miracle-Gro were worth $4,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC raised its stake in Scotts Miracle-Gro by 1.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,201,683 shares of the basic materials company’s stock valued at $338,421,000 after purchasing an additional 49,262 shares during the last quarter. Earnest Partners LLC raised its stake in shares of 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 valued at $205,307,000 after buying an additional 42,500 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Scotts Miracle-Gro by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,726,338 shares of the basic materials company’s stock valued at $203,359,000 after buying an additional 542,406 shares in the last quarter. Millennium Management LLC raised its stake in shares of Scotts Miracle-Gro by 6.8% in the 2nd quarter. Millennium Management LLC now owns 815,371 shares of the basic materials company’s stock valued at $53,048,000 after buying an additional 52,136 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Scotts Miracle-Gro by 194.2% in the 2nd quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock valued at $49,515,000 after buying an additional 502,353 shares in the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, major shareholder Hagedorn Partnership, L.P. sold 85,130 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $70.93, for a total transaction of $6,038,270.90. Following the sale, the insider now owns 13,608,238 shares of the company’s stock, valued at $965,232,321.34. This represents a 0.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Nathan Eric Baxter sold 2,988 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $70.93, for a total transaction of $211,938.84. Following the sale, the chief operating officer now directly owns 37,920 shares in the company, valued at approximately $2,689,665.60. This represents a 7.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 26.46% of the company’s stock.

Scotts Miracle-Gro Stock Performance

SMG opened at $74.41 on Friday. The firm’s 50-day simple moving average is $81.31 and its 200-day simple moving average is $72.63. The Scotts Miracle-Gro Company has a twelve month low of $53.43 and a twelve month high of $93.90. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of -107.84 and a beta of 1.76.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

Analyst Ratings Changes

SMG has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Truist Financial dropped their price objective 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. 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 research note on Monday, November 4th. UBS Group dropped their price objective on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Finally, Wells Fargo & Company dropped their price objective on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Scotts Miracle-Gro has a consensus rating of “Hold” and an average price target of $78.60.

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.