Edgestream Partners L.P. increased its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 63.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,337 shares of the basic materials company's stock after acquiring an additional 21,872 shares during the quarter. Edgestream Partners L.P. owned about 0.10% of Scotts Miracle-Gro worth $4,884,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of SMG. Scientech Research LLC acquired a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth approximately $866,000. Retirement Systems of Alabama boosted its stake in Scotts Miracle-Gro by 309.5% during the second quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company's stock worth $14,035,000 after buying an additional 163,037 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in Scotts Miracle-Gro by 2.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 672,556 shares of the basic materials company's stock valued at $43,756,000 after buying an additional 14,533 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Scotts Miracle-Gro by 194.2% in the 2nd quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company's stock worth $49,515,000 after acquiring an additional 502,353 shares during the last quarter. Finally, De Lisle Partners LLP purchased a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth $10,162,000. Hedge funds and other institutional investors own 74.07% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. Truist Financial dropped their price target on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a "hold" rating for the company in a research note on Friday, November 8th. Stifel Nicolaus lifted their price target on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a "hold" rating in a research report on Monday, November 4th. Wells Fargo & Company lowered their price objective on Scotts Miracle-Gro from $95.00 to $85.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Finally, UBS Group reduced their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Scotts Miracle-Gro presently has a consensus rating of "Hold" and a consensus price target of $78.60.
Read Our Latest Report on Scotts Miracle-Gro
Scotts Miracle-Gro Stock Up 1.7 %
NYSE SMG traded up $1.29 on Friday, reaching $77.09. The 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 12-month low of $53.43 and a 12-month high of $93.90. The stock has a fifty day moving average price of $82.64 and a two-hundred day moving average price of $73.18. The firm has a market capitalization of $4.43 billion, a price-to-earnings ratio of -111.72 and a beta of 1.76.
Scotts Miracle-Gro Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro's payout ratio is -382.61%.
Scotts Miracle-Gro Profile
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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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