OneDigital Investment Advisors LLC Buys Shares of 2,540 The Scotts Miracle-Gro Company (NYSE:SMG)

OneDigital Investment Advisors LLC bought a new position in The Scotts Miracle-Gro Company (NYSE:SMG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,540 shares of the basic materials company’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in Scotts Miracle-Gro by 24.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,726,338 shares of the basic materials company’s stock valued at $203,359,000 after purchasing an additional 542,406 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Scotts Miracle-Gro by 194.2% during the second quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock worth $49,515,000 after buying an additional 502,353 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Scotts Miracle-Gro by 18.2% in the 1st quarter. Earnest Partners LLC now owns 3,113,153 shares of the basic materials company’s stock valued at $232,210,000 after acquiring an additional 479,315 shares during the last quarter. Interval Partners LP boosted its holdings in shares of Scotts Miracle-Gro by 3,581.1% during the 1st quarter. Interval Partners LP now owns 478,546 shares of the basic materials company’s stock valued at $35,695,000 after acquiring an additional 465,546 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Scotts Miracle-Gro by 8,330.2% during the 3rd quarter. International Assets Investment Management LLC now owns 281,485 shares of the basic materials company’s stock worth $24,405,000 after acquiring an additional 278,146 shares during the last quarter. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Up 2.7 %

SMG stock opened at $77.86 on Friday. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of -112.84 and a beta of 1.76. The company’s fifty day simple moving average is $82.15 and its 200 day simple moving average is $72.85. The Scotts Miracle-Gro Company has a 12-month low of $53.43 and a 12-month high of $93.90.

Scotts Miracle-Gro Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.64 annualized dividend and a yield of 3.39%. Scotts Miracle-Gro’s dividend payout ratio is currently -382.61%.

Wall Street Analysts Forecast Growth

SMG has been the subject of several research reports. UBS Group dropped their target price on 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. Wells Fargo & Company cut their target price on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. dropped 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 note on Thursday, November 7th. Stifel Nicolaus boosted their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Finally, Truist Financial lowered their target price on 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. 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.com, Scotts Miracle-Gro presently has an average rating of “Hold” and a consensus target price of $78.60.

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.