Advisors Asset Management Inc. Buys 1,181 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Advisors Asset Management Inc. increased its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,706 shares of the basic materials company’s stock after buying an additional 1,181 shares during the quarter. Advisors Asset Management Inc. owned 0.10% of Scotts Miracle-Gro worth $4,743,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in shares of Scotts Miracle-Gro by 0.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 30,264 shares of the basic materials company’s stock worth $2,624,000 after buying an additional 222 shares during the period. Caprock Group LLC bought a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth approximately $227,000. Chesapeake Capital Corp IL lifted its position in shares of Scotts Miracle-Gro by 27.9% during the 3rd quarter. Chesapeake Capital Corp IL now owns 5,079 shares of the basic materials company’s stock worth $434,000 after buying an additional 1,108 shares during the period. Mizuho Markets Americas LLC bought a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth approximately $1,321,000. Finally, Nicollet Investment Management Inc. lifted its position in shares of 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 buying an additional 135 shares during the period. Institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Up 1.7 %

SMG stock opened at $76.47 on Friday. The company has a market cap of $4.35 billion, a P/E ratio of -110.83 and a beta of 1.76. The Scotts Miracle-Gro Company has a twelve month low of $53.43 and a twelve month high of $93.90. The business has a fifty day moving average of $81.98 and a 200-day moving average of $72.80.

Scotts Miracle-Gro Dividend Announcement

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 paid 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 3.45%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -382.61%.

Analysts Set New Price Targets

Several brokerages have issued reports on SMG. UBS Group cut their price objective 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. Truist Financial cut their price objective 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. JPMorgan Chase & Co. cut their price objective on 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 lifted their price objective 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. Finally, Wells Fargo & Company cut their price objective on 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. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Scotts Miracle-Gro presently has a consensus rating of “Hold” and a consensus target price of $78.60.

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.