Charles Schwab Investment Management Inc. Sells 12,168 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Charles Schwab Investment Management Inc. lessened its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 2.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 551,250 shares of the basic materials company’s stock after selling 12,168 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Scotts Miracle-Gro were worth $47,793,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. OLD National Bancorp IN boosted its holdings in Scotts Miracle-Gro by 2.7% in the 3rd quarter. OLD National Bancorp IN now owns 5,049 shares of the basic materials company’s stock valued at $438,000 after purchasing an additional 131 shares during the period. Nicollet Investment Management Inc. increased its position in Scotts Miracle-Gro by 1.1% during the 3rd quarter. Nicollet Investment Management Inc. now owns 12,845 shares of the basic materials company’s stock worth $1,114,000 after purchasing an additional 135 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Scotts Miracle-Gro by 41.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 161 shares in the last quarter. Blue Trust Inc. raised its holdings in Scotts Miracle-Gro by 83.6% in the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock valued at $32,000 after buying an additional 168 shares during the last quarter. Finally, Versant Capital Management Inc grew 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 valued at $25,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SMG. 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 report on Thursday, November 7th. Wells Fargo & Company cut their price objective on 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. Truist Financial lowered their price objective on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Stifel Nicolaus raised their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Scotts Miracle-Gro has a consensus rating of “Hold” and a consensus target price of $78.60.

Scotts Miracle-Gro Price Performance

Shares of SMG stock opened at $77.09 on Monday. The company’s fifty day moving average price is $82.64 and its 200-day moving average price is $73.18. The Scotts Miracle-Gro Company has a one year low of $53.43 and a one year high of $93.90. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of -111.72 and a beta of 1.76.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s payout ratio is -382.61%.

Scotts Miracle-Gro Company Profile

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.