BNP Paribas Financial Markets increased its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 228.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,798 shares of the basic materials company's stock after buying an additional 175,719 shares during the quarter. BNP Paribas Financial Markets owned 0.44% of Scotts Miracle-Gro worth $21,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SMG. Versant Capital Management Inc grew its stake in Scotts Miracle-Gro by 80.1% during the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 173 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Scotts Miracle-Gro during the 2nd quarter valued at about $25,000. Global X Japan Co. Ltd. purchased a new stake in Scotts Miracle-Gro during the 3rd quarter valued at about $26,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Scotts Miracle-Gro during the 2nd quarter valued at about $29,000. Finally, Farther Finance Advisors LLC grew its stake in Scotts Miracle-Gro by 427.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 269 shares during the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
SMG has been the topic of several research analyst reports. Truist Financial dropped their price target on Scotts Miracle-Gro from $90.00 to $70.00 and set a "hold" rating on the stock in a research note on Friday, November 8th. Wells Fargo & Company cut their price target on Scotts Miracle-Gro from $95.00 to $85.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. UBS Group cut their price target on Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. Finally, Stifel Nicolaus increased their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a "hold" rating in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $78.60.
Read Our Latest Research Report on Scotts Miracle-Gro
Scotts Miracle-Gro Stock Up 1.7 %
Scotts Miracle-Gro stock traded up $1.29 during midday trading on Friday, reaching $77.09. The company's stock had a trading volume of 503,002 shares, compared to its average volume of 1,059,182. The Scotts Miracle-Gro Company has a fifty-two week low of $53.43 and a fifty-two week high of $93.90. The business has a 50-day simple moving average of $82.64 and a 200-day simple moving average of $73.17.
Scotts Miracle-Gro Dividend Announcement
The firm 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 $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro's dividend payout ratio is presently -382.61%.
About Scotts Miracle-Gro
(
Free Report)
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.
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