Charles Schwab Investment Management Inc. Trims Holdings in The Scotts Miracle-Gro Company (NYSE:SMG)

Charles Schwab Investment Management Inc. lessened its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 551,250 shares of the basic materials company's stock after selling 12,168 shares during the period. Charles Schwab Investment Management Inc. owned 0.97% of Scotts Miracle-Gro worth $47,793,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Cetera Investment Advisers lifted its position in shares of Scotts Miracle-Gro by 974.4% in the 1st quarter. Cetera Investment Advisers now owns 41,987 shares of the basic materials company's stock worth $3,132,000 after purchasing an additional 38,079 shares during the period. Cetera Advisors LLC lifted its position in shares of Scotts Miracle-Gro by 65.0% in the 1st quarter. Cetera Advisors LLC now owns 5,198 shares of the basic materials company's stock worth $388,000 after purchasing an additional 2,048 shares during the period. Versant Capital Management Inc lifted its position in shares of Scotts Miracle-Gro by 80.1% in the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company's stock worth $25,000 after purchasing an additional 173 shares during the period. Simplicity Wealth LLC lifted its position in shares of Scotts Miracle-Gro by 12.0% in the 2nd quarter. Simplicity Wealth LLC now owns 71,412 shares of the basic materials company's stock worth $4,646,000 after purchasing an additional 7,644 shares during the period. Finally, OLD National Bancorp IN purchased a new stake in shares of Scotts Miracle-Gro in the 2nd quarter worth about $320,000. Institutional investors own 74.07% of the company's stock.

Wall Street Analysts Forecast Growth

SMG has been the subject of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of 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. 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. JPMorgan Chase & Co. lowered their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, November 7th. Truist Financial lowered 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 report on Friday, November 8th. Finally, UBS Group lowered their price target on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating for the company 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $78.60.

Scotts Miracle-Gro Stock Performance

Shares of SMG stock traded down $0.18 during trading hours on Monday, reaching $76.91. The company had a trading volume of 818,244 shares, compared to its average volume of 814,611. The business has a fifty day moving average price of $82.64 and a 200-day moving average price of $73.21. The Scotts Miracle-Gro Company has a one year low of $53.43 and a one year high of $93.90. The firm has a market cap of $4.42 billion, a PE ratio of -110.70 and a beta of 1.76.

Scotts Miracle-Gro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro's dividend payout ratio is currently -382.61%.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, major shareholder Hagedorn Partnership, L.P. sold 28,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $75.91, for a total transaction of $2,125,480.00. Following the sale, the insider now owns 13,553,774 shares in the company, valued at approximately $1,028,866,984.34. This represents a 0.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 26.46% of the company's stock.

About Scotts Miracle-Gro

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.