The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by Swiss National Bank

Swiss National Bank lowered its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,200 shares of the basic materials company’s stock after selling 700 shares during the quarter. Swiss National Bank owned 0.15% of Scotts Miracle-Gro worth $7,213,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Scotts Miracle-Gro by 1.0% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,201,683 shares of the basic materials company’s stock worth $338,421,000 after buying an additional 49,262 shares in the last quarter. Earnest Partners LLC increased its position in shares of Scotts Miracle-Gro by 1.4% in the 2nd quarter. Earnest Partners LLC now owns 3,155,653 shares of the basic materials company’s stock worth $205,307,000 after purchasing an additional 42,500 shares during the last quarter. Millennium Management LLC increased its position in shares of Scotts Miracle-Gro by 6.8% in the 2nd quarter. Millennium Management LLC now owns 815,371 shares of the basic materials company’s stock worth $53,048,000 after purchasing an additional 52,136 shares during the last quarter. AQR Capital Management LLC increased its position 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 purchasing an additional 502,353 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Scotts Miracle-Gro by 6.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 680,282 shares of the basic materials company’s stock worth $44,259,000 after purchasing an additional 39,468 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Up 5.0 %

Shares of NYSE:SMG opened at $81.73 on Tuesday. The Scotts Miracle-Gro Company has a fifty-two week low of $53.43 and a fifty-two week high of $93.90. The firm has a 50-day simple moving average of $82.37 and a 200 day simple moving average of $73.01. The company has a market cap of $4.64 billion, a PE ratio of -118.45 and a beta of 1.76.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s payout ratio is -382.61%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SMG. Truist Financial dropped their target price 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. JPMorgan Chase & Co. dropped their target price 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. Stifel Nicolaus boosted their target price on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Company dropped their target price 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. Finally, UBS Group lowered their price objective 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.