Principal Financial Group Inc. Has $14.87 Million Stock Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Principal Financial Group Inc. boosted its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMGGet Rating) by 6.5% in the second quarter, Holdings Channel.com reports. The fund owned 188,259 shares of the basic materials company’s stock after buying an additional 11,534 shares during the quarter. Principal Financial Group Inc.’s holdings in Scotts Miracle-Gro were worth $14,871,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Canada Pension Plan Investment Board bought a new position in shares of Scotts Miracle-Gro during the first quarter worth $27,000. Byrne Asset Management LLC boosted its position in shares of Scotts Miracle-Gro by 78.3% during the second quarter. Byrne Asset Management LLC now owns 353 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 155 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Scotts Miracle-Gro by 84.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 390 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 178 shares in the last quarter. Tcwp LLC bought a new position in shares of Scotts Miracle-Gro during the first quarter worth $41,000. Finally, MBM Wealth Consultants LLC bought a new position in shares of Scotts Miracle-Gro during the first quarter worth $61,000. Institutional investors and hedge funds own 66.81% of the company’s stock.

Scotts Miracle-Gro Stock Down 0.4 %

Scotts Miracle-Gro stock opened at $56.38 on Friday. The firm has a market capitalization of $3.12 billion, a PE ratio of -7.10 and a beta of 1.43. The company’s 50-day moving average is $49.71 and its 200-day moving average is $70.60. The Scotts Miracle-Gro Company has a fifty-two week low of $39.06 and a fifty-two week high of $167.09. The company has a debt-to-equity ratio of 19.13, a current ratio of 2.06 and a quick ratio of 0.66.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Monday, November 28th will be paid a dividend of $0.66 per share. The ex-dividend date is Friday, November 25th. This represents a $2.64 annualized dividend and a dividend yield of 4.68%. Scotts Miracle-Gro’s dividend payout ratio is presently -33.25%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SMG shares. TheStreet cut shares of Scotts Miracle-Gro from a “c” rating to a “d+” rating in a research report on Wednesday, August 3rd. Stifel Nicolaus cut their price objective on shares of Scotts Miracle-Gro from $75.00 to $48.00 in a research report on Thursday, October 27th. Truist Financial cut their price objective on shares of Scotts Miracle-Gro from $85.00 to $50.00 in a research report on Thursday, November 3rd. Barclays raised shares of Scotts Miracle-Gro from an “equal weight” rating to an “overweight” rating and set a $75.00 price objective on the stock in a research report on Tuesday, November 8th. Finally, UBS Group cut their price target on shares of Scotts Miracle-Gro from $92.00 to $86.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $58.57.

Insider Transactions at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 77,691 shares of the business’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $57.59, for a total transaction of $4,474,224.69. Following the transaction, the director now directly owns 14,472,222 shares in the company, valued at approximately $833,455,264.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Hagedorn Partnership, L.P. sold 77,691 shares of the company’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $57.59, for a total value of $4,474,224.69. Following the transaction, the director now owns 14,472,222 shares in the company, valued at approximately $833,455,264.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Peter E. Shumlin sold 750 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $56.94, for a total transaction of $42,705.00. Following the completion of the transaction, the director now owns 11,385 shares in the company, valued at approximately $648,261.90. The disclosure for this sale can be found here. 27.31% of the stock is owned by company insiders.

About Scotts Miracle-Gro

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The Scotts Miracle-Gro Company engages in the manufacture, marketing, and sale of products for lawn, garden care, and indoor and hydroponic gardening in the United States and internationally. The company operates through three segments: U.S. Consumer, Hawthorne, and Other. It provides lawn care products comprising lawn fertilizers, grass seed products, spreaders, other durable products, and outdoor cleaners, as well as lawn-related weed, pest, and disease control products; gardening and landscape products include water-soluble and continuous-release plant foods, potting mixes and garden soils, mulch and decorative groundcover products, plant-related pest and disease control products, organic garden products, and lives goods and seeding solutions.

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Institutional Ownership by Quarter for Scotts Miracle-Gro (NYSE:SMG)

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