BlackRock Cuts Scotts Miracle-Gro Stake to 12.8%
Ticker: SMG · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 825542
| Field | Detail |
|---|---|
| Company | Scotts Miracle-Gro CO (SMG) |
| Form Type | SC 13G/A |
| Filed Date | Jan 26, 2024 |
| Risk Level | medium |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: institutional-ownership, stake-change, amendment, SC-13G/A
TL;DR
**BlackRock trimmed its Scotts Miracle-Gro stake to 12.8%, signaling a potential shift in sentiment.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 26, 2024, disclosing its ownership of 7,064,680 shares of The Scotts Miracle-Gro Co.'s Common Stock as of December 31, 2023. This represents a 12.8% stake in the company, a decrease from its previously reported ownership. This matters to investors because BlackRock, a major institutional investor, has reduced its position, which could signal a shift in its outlook on Scotts Miracle-Gro's future performance or valuation.
Why It Matters
A reduction in ownership by a major institutional investor like BlackRock can indicate a less bullish outlook on the company, potentially influencing other investors' perceptions and the stock price.
Risk Assessment
Risk Level: medium — While not a drastic sell-off, a reduction in a significant institutional holding can introduce uncertainty and potentially downward pressure on the stock.
Analyst Insight
Investors should monitor future institutional filings and company news for Scotts Miracle-Gro to understand the broader sentiment and potential reasons behind BlackRock's reduced stake, especially if considering buying or holding the stock.
Key Numbers
- 7,064,680 — Shares Owned (BlackRock's total beneficial ownership of Scotts Miracle-Gro Common Stock as of December 31, 2023.)
- 12.8% — Ownership Percentage (The percentage of Scotts Miracle-Gro's Common Stock beneficially owned by BlackRock Inc. as of December 31, 2023.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- The Scotts Miracle-Gro Co. (company) — the subject company whose shares are being reported
- 7,064,680 (dollar_amount) — number of shares of Common Stock beneficially owned by BlackRock Inc.
- 12.8% (dollar_amount) — percentage of The Scotts Miracle-Gro Co.'s Common Stock owned by BlackRock Inc.
- December 31, 2023 (date) — the date of the event which required the filing of this statement
Forward-Looking Statements
- Scotts Miracle-Gro's stock price may experience slight downward pressure or increased volatility in the short term. (The Scotts Miracle-Gro Co.) — medium confidence, target: Q1 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No: 8) by BlackRock Inc. to report its beneficial ownership of Common Stock in The Scotts Miracle-Gro Co. as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is BlackRock Inc., a company with a Central Index Key (CIK) of 0001364742, located at 50 Hudson Yards, New York, NY.
What is the subject company of this filing?
The subject company is The Scotts Miracle-Gro Co., with a Central Index Key (CIK) of 0000825542, located at 14111 Scottslawn Road, Marysville, OH.
How many shares of Common Stock does BlackRock Inc. beneficially own in The Scotts Miracle-Gro Co. according to this filing?
As of December 31, 2023, BlackRock Inc. beneficially owns 7,064,680 shares of Common Stock in The Scotts Miracle-Gro Co.
What percentage of The Scotts Miracle-Gro Co.'s Common Stock does BlackRock Inc. own?
BlackRock Inc. beneficially owns 12.8% of The Scotts Miracle-Gro Co.'s Common Stock as of December 31, 2023.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding SCOTTS MIRACLE-GRO CO (SMG).