Oppenheimer & Co. Inc. Makes New $227,000 Investment in The Scotts Miracle-Gro Company (NYSE:SMG)

Oppenheimer & Co. Inc. acquired a new position in The Scotts Miracle-Gro Company (NYSE:SMG) in the third quarter, Holdings Channel.com reports. The firm acquired 2,620 shares of the basic materials company’s stock, valued at approximately $227,000.

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

Scotts Miracle-Gro Stock Performance

NYSE SMG opened at $77.86 on Friday. The stock has a market cap of $4.42 billion, a P/E ratio of -112.84 and a beta of 1.76. The Scotts Miracle-Gro Company has a fifty-two week low of $53.43 and a fifty-two week high of $93.90. The stock has a 50 day simple moving average of $82.15 and a two-hundred day simple moving average of $72.85.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -382.61%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SMG shares. JPMorgan Chase & Co. cut 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 research report on Thursday, November 7th. Wells Fargo & Company dropped their target price on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Truist Financial decreased their price target on 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. Stifel Nicolaus increased their price objective on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, UBS Group decreased 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 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, Scotts Miracle-Gro presently has an average rating of “Hold” and an average price target 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.