The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by Quest Partners LLC

Quest Partners LLC trimmed its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,243 shares of the basic materials company’s stock after selling 252 shares during the quarter. Quest Partners LLC’s holdings in Scotts Miracle-Gro were worth $541,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Global X Japan Co. Ltd. purchased a new position in Scotts Miracle-Gro in the 3rd quarter valued at $26,000. Farther Finance Advisors LLC lifted its stake in shares of Scotts Miracle-Gro by 427.0% in the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after buying an additional 269 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Scotts Miracle-Gro by 83.6% in the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after buying an additional 168 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Scotts Miracle-Gro during the second quarter worth about $25,000. Finally, 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 acquiring an additional 173 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SMG. UBS Group lowered their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Truist Financial dropped their target price on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 8th. Wells Fargo & Company lowered their price target 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. Finally, JPMorgan Chase & Co. cut 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 research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $78.60.

Scotts Miracle-Gro Price Performance

NYSE SMG opened at $77.86 on Friday. The stock has a market capitalization of $4.42 billion, a P/E ratio of -112.84 and a beta of 1.76. The firm’s 50-day moving average is $82.15 and its two-hundred day moving average is $72.87. The Scotts Miracle-Gro Company has a 12 month low of $53.43 and a 12 month high of $93.90.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a dividend of $0.66 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.39%. Scotts Miracle-Gro’s payout ratio is currently -382.61%.

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.