Caprock Group LLC Takes $227,000 Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Caprock Group LLC acquired a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,623 shares of the basic materials company’s stock, valued at approximately $227,000.

Other large investors also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. acquired a new position in shares of Scotts Miracle-Gro during the 3rd quarter valued at about $26,000. Farther Finance Advisors LLC raised its stake in Scotts Miracle-Gro by 427.0% during the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 269 shares during the period. Blue Trust Inc. boosted 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 purchasing an additional 168 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Scotts Miracle-Gro in the 2nd quarter valued at approximately $25,000. Finally, Versant Capital Management Inc increased its holdings in shares of Scotts Miracle-Gro by 80.1% during the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock worth $25,000 after buying an additional 173 shares during the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SMG has been the subject of several analyst reports. UBS Group lowered 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. Stifel Nicolaus increased their price target on Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Truist Financial reduced their price objective on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. lowered 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 note on Thursday, November 7th. Finally, Wells Fargo & Company reduced 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 research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $78.60.

Scotts Miracle-Gro Trading Up 1.8 %

SMG opened at $77.86 on Monday. The firm has a market cap of $4.42 billion, a price-to-earnings ratio of -112.84 and a beta of 1.76. The stock’s 50-day moving average price is $82.15 and its 200 day moving average price is $72.92. The Scotts Miracle-Gro Company has a 12-month low of $53.43 and a 12-month high of $93.90.

Scotts Miracle-Gro Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend 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.