Victory Capital Management Inc. Sells 705 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Victory Capital Management Inc. reduced its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 6.9% during the third quarter, HoldingsChannel.com reports. The fund owned 9,446 shares of the basic materials company’s stock after selling 705 shares during the quarter. Victory Capital Management Inc.’s holdings in Scotts Miracle-Gro were worth $819,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Aigen Investment Management LP increased its holdings in Scotts Miracle-Gro by 170.8% in the 3rd quarter. Aigen Investment Management LP now owns 9,657 shares of the basic materials company’s stock valued at $837,000 after acquiring an additional 6,091 shares during the last quarter. Versor Investments LP bought a new stake in Scotts Miracle-Gro during the third quarter worth approximately $1,110,000. Venturi Wealth Management LLC boosted its holdings in shares of Scotts Miracle-Gro by 26.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,937 shares of the basic materials company’s stock worth $341,000 after purchasing an additional 824 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Scotts Miracle-Gro in the 3rd quarter worth approximately $243,000. Finally, Bridges Investment Management Inc. bought a new position in shares of Scotts Miracle-Gro during the 3rd quarter valued at approximately $250,000. 74.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Scotts Miracle-Gro Stock Down 2.6 %

Shares of NYSE:SMG opened at $75.77 on Thursday. The business’s 50 day moving average is $82.49 and its 200 day moving average is $73.08. The stock has a market cap of $4.31 billion, a P/E ratio of -109.81 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro’s dividend 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.