Metis Global Partners LLC Takes Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Metis Global Partners LLC acquired a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) during the third quarter, HoldingsChannel reports. The fund acquired 2,518 shares of the basic materials company’s stock, valued at approximately $218,000.

A number of other hedge funds also recently bought and sold shares of SMG. State Board of Administration of Florida Retirement System raised its stake in shares of Scotts Miracle-Gro by 4.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 44,559 shares of the basic materials company’s stock worth $3,108,000 after acquiring an additional 1,769 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Scotts Miracle-Gro by 148.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,450 shares of the basic materials company’s stock worth $965,000 after purchasing an additional 8,042 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Scotts Miracle-Gro by 15.6% during the first quarter. Gamco Investors INC. ET AL now owns 241,875 shares of the basic materials company’s stock valued at $18,041,000 after buying an additional 32,700 shares during the period. Gabelli Funds LLC grew its stake in shares of Scotts Miracle-Gro by 6.6% during the first quarter. Gabelli Funds LLC now owns 32,500 shares of the basic materials company’s stock valued at $2,424,000 after buying an additional 2,000 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Scotts Miracle-Gro in the first quarter worth about $237,000. Institutional investors own 74.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group reduced their price target on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Truist Financial decreased their target price on shares of 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. lowered their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Wells Fargo & Company cut 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 report on Thursday, November 7th. Finally, Stifel Nicolaus upped their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Monday, November 4th. 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $78.60.

Scotts Miracle-Gro Stock Down 0.2 %

Shares of SMG stock opened at $74.68 on Wednesday. The stock has a fifty day moving average of $81.61 and a 200 day moving average of $72.76. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of -108.23 and a beta of 1.76. The Scotts Miracle-Gro Company has a 52 week low of $53.43 and a 52 week high of $93.90.

Scotts Miracle-Gro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 dividend yield of 3.54%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s payout ratio is -382.61%.

Scotts Miracle-Gro 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.