Fisher Asset Management LLC Cuts Stock Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Fisher Asset Management LLC decreased its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,369 shares of the basic materials company’s stock after selling 199 shares during the quarter. Fisher Asset Management LLC owned about 0.17% of Scotts Miracle-Gro worth $8,529,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Algert Global LLC grew its holdings in shares of Scotts Miracle-Gro by 202.2% during the third quarter. Algert Global LLC now owns 25,140 shares of the basic materials company’s stock worth $2,180,000 after buying an additional 16,821 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Scotts Miracle-Gro by 53.6% during the third quarter. Cerity Partners LLC now owns 12,880 shares of the basic materials company’s stock worth $1,117,000 after buying an additional 4,496 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Scotts Miracle-Gro by 344.2% during the third quarter. Citigroup Inc. now owns 80,434 shares of the basic materials company’s stock worth $6,974,000 after buying an additional 62,327 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Scotts Miracle-Gro by 5.0% during the third quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company’s stock worth $275,082,000 after buying an additional 151,354 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of Scotts Miracle-Gro by 2.2% during the third quarter. Advisors Asset Management Inc. now owns 54,706 shares of the basic materials company’s stock worth $4,743,000 after buying an additional 1,181 shares in the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SMG. 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 report on Monday, November 4th. JPMorgan Chase & Co. reduced 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 research report on Thursday, November 7th. UBS Group reduced their target price on shares of Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. Truist Financial reduced 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 report on Friday, November 8th. Finally, Wells Fargo & Company reduced their target price 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. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $78.60.

Scotts Miracle-Gro Stock Down 2.6 %

Shares of Scotts Miracle-Gro stock opened at $75.80 on Friday. The firm has a market capitalization of $4.31 billion, a P/E ratio of -109.86 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. The firm’s 50 day moving average is $82.55 and its two-hundred day moving average is $73.10.

Scotts Miracle-Gro Announces Dividend

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