Earnest Partners Reduces $3M in SMG ($SMG)
Earnest Partners trimmed its SMG holdings by 53,419 shares, bringing its total to nearly 3.4 million shares.
Key Points
- Earnest Partners reduced its stake in SMG by 53,419 shares, ending with approximately 3.4 million shares valued at $214.4 million.
- SMG shares traded around $63.08, with a market cap of $214.4 million, reflecting the fund's updated position.
- Insiders, including EVP CFO Mark Scheiwer, were active buyers, while analysts like Stifel maintained a 'buy' rating with a $75 target.
Earnest Partners has trimmed its holdings in SMG, reducing its position by 53,419 shares as reported in its latest 13F filing with the SEC. This adjustment brings its total holdings to approximately 3.4 million shares, valued at about $214.4 million as of the filing date on May 15, 2026.
What Changed in Earnest Partners' SMG Position
The fund reduced its stake in SMG from 3,453,067 shares to 3,399,648 shares, a decrease of 1.5%. This move, reflecting a trimming of their position, suggests a slight reevaluation of their investment in SMG.
Other Institutional Activity in SMG
In other institutional moves, BlackRock, Inc. increased its SMG holdings by 235,875 shares, ending with 4,444,656 shares worth about $270.3 million. Vanguard Portfolio Management LLC added 2,503,140 shares, bringing its total to the same number, valued at $152.2 million. FMR LLC boosted its position by 679,035 shares, holding 2,141,195 shares valued at $130.2 million. Meanwhile, State Street Corp added 32,961 shares, reaching 1,518,922 shares worth approximately $92.4 million.
SMG Stock Snapshot
Shares of SMG have been trading around $63.08. The company has a significant market presence, with its market cap reflecting the updated holdings of Earnest Partners. The stock's performance and institutional interest may influence future trading activities.
Insider Buying and Selling at SMG
Recent insider activity at SMG includes several purchases on June 5, 2026. Mark Scheiwer, EVP, CFO & CAO, purchased 64 shares, and other insiders such as Peter Shumlin and Adam Hanft also made small acquisitions. These transactions indicate some level of confidence from within the company.
Analysts Set New Price Targets
Analysts have been active in setting new price targets for SMG. On June 8, 2026, Stifel maintained a 'buy' rating with a price target of $75. Wells Fargo also maintained its 'buy' rating with a target of $72 back in April. Meanwhile, JP Morgan downgraded the stock to 'hold' with a target of $67 in March.
About SMG
SMG operates in the consumer goods sector, providing a range of products that cater to both individual and business needs. Headquartered in the United States, SMG is known for its innovative solutions in its industry, with a focus on sustainability and customer satisfaction.
Bottom Line
The recent 13F filing by Earnest Partners shows a slight reduction in their SMG holdings, reflecting ongoing portfolio adjustments. Investors often track these filings to gauge institutional sentiment. While the filing provides a snapshot of past positions, it may not necessarily indicate current or future strategies.
See Also
This instant news alert was generated by automated narrative technology and financial data from EarningsIQ and public regulatory filings. It is for informational purposes only and is not financial advice.