PNC Financial Services Group Inc. Purchases 222 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

PNC Financial Services Group Inc. raised its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 30,264 shares of the basic materials company’s stock after buying an additional 222 shares during the period. PNC Financial Services Group Inc.’s holdings in Scotts Miracle-Gro were worth $2,624,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC raised its holdings in 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 valued at $49,515,000 after buying an additional 502,353 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Scotts Miracle-Gro by 8,330.2% during the third quarter. International Assets Investment Management LLC now owns 281,485 shares of the basic materials company’s stock worth $24,405,000 after purchasing an additional 278,146 shares during the period. Retirement Systems of Alabama grew its stake in shares of Scotts Miracle-Gro by 309.5% in the second quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company’s stock worth $14,035,000 after purchasing an additional 163,037 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Scotts Miracle-Gro in the second quarter valued at $7,341,000. Finally, Cubist Systematic Strategies LLC raised its position in Scotts Miracle-Gro by 567.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 77,424 shares of the basic materials company’s stock worth $5,037,000 after purchasing an additional 65,824 shares during the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group decreased their price target on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Stifel Nicolaus increased their target price 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. Truist Financial dropped their price target on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. decreased 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. Finally, Wells Fargo & Company dropped 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 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $78.60.

Scotts Miracle-Gro Stock Up 5.0 %

NYSE:SMG opened at $81.73 on Tuesday. The Scotts Miracle-Gro Company has a twelve month low of $53.43 and a twelve month high of $93.90. The company has a fifty day moving average of $82.37 and a 200-day moving average of $73.01. The firm has a market capitalization of $4.64 billion, a P/E ratio of -118.45 and a beta of 1.76.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.66 per share. The ex-dividend date is Friday, November 22nd. This represents a $2.64 annualized dividend and a dividend yield of 3.23%. Scotts Miracle-Gro’s dividend 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.