Corton Capital Inc. Takes $515,000 Position in The Scotts Miracle-Gro Company $SMG

Corton Capital Inc. purchased a new stake in The Scotts Miracle-Gro Company (NYSE:SMG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,812 shares of the basic materials company’s stock, valued at approximately $515,000. Scotts Miracle-Gro comprises 0.6% of Corton Capital Inc.’s investment portfolio, making the stock its 16th biggest position.

Several other large investors have also modified their holdings of the business. Spire Wealth Management grew its position in shares of Scotts Miracle-Gro by 32.1% in the second quarter. Spire Wealth Management now owns 725 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 176 shares during the last quarter. Moors & Cabot Inc. boosted its position in Scotts Miracle-Gro by 3.1% during the first quarter. Moors & Cabot Inc. now owns 6,415 shares of the basic materials company’s stock worth $352,000 after acquiring an additional 191 shares during the last quarter. State of Michigan Retirement System boosted its position in Scotts Miracle-Gro by 2.0% during the first quarter. State of Michigan Retirement System now owns 10,300 shares of the basic materials company’s stock worth $565,000 after acquiring an additional 200 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Scotts Miracle-Gro by 2.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 8,826 shares of the basic materials company’s stock worth $484,000 after acquiring an additional 200 shares during the last quarter. Finally, Wellington Shields Capital Management LLC boosted its position in Scotts Miracle-Gro by 16.1% during the second quarter. Wellington Shields Capital Management LLC now owns 2,001 shares of the basic materials company’s stock worth $132,000 after acquiring an additional 278 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SMG. Truist Financial set a $80.00 target price on shares of Scotts Miracle-Gro and gave the stock a “buy” rating in a research report on Monday, July 14th. Zacks Research cut shares of Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research report on Wednesday, October 8th. Stifel Nicolaus reduced their target price on Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating on the stock in a report on Monday, August 4th. Finally, Wall Street Zen cut Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Scotts Miracle-Gro has a consensus rating of “Moderate Buy” and a consensus target price of $69.17.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, EVP Mark J. Scheiwer bought 1,790 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $61.32 per share, with a total value of $109,762.80. Following the transaction, the executive vice president owned 10,130 shares of the company’s stock, valued at approximately $621,171.60. This trade represents a 21.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $63.02, for a total transaction of $3,569,011.66. Following the completion of the sale, the director directly owned 13,217,641 shares of the company’s stock, valued at $832,975,735.82. The trade was a 0.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 25.37% of the company’s stock.

Scotts Miracle-Gro Trading Up 0.6%

NYSE:SMG opened at $53.46 on Monday. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 70.34 and a beta of 1.96. The firm’s fifty day simple moving average is $58.08 and its 200 day simple moving average is $60.45. The Scotts Miracle-Gro Company has a twelve month low of $45.61 and a twelve month high of $93.90.

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.