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

Fisher Asset Management LLC cut its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,369 shares of the basic materials company’s stock after selling 199 shares during the period. Fisher Asset Management LLC’s holdings in Scotts Miracle-Gro were worth $8,529,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. OLD National Bancorp IN grew its position in shares of Scotts Miracle-Gro by 2.7% during the third quarter. OLD National Bancorp IN now owns 5,049 shares of the basic materials company’s stock worth $438,000 after acquiring an additional 131 shares during the last quarter. Nicollet Investment Management Inc. grew its position in shares of Scotts Miracle-Gro by 1.1% during the third quarter. Nicollet Investment Management Inc. now owns 12,845 shares of the basic materials company’s stock worth $1,114,000 after acquiring an additional 135 shares during the last quarter. Hexagon Capital Partners LLC grew its position in shares of Scotts Miracle-Gro by 41.3% during the second quarter. Hexagon Capital Partners LLC now owns 551 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 161 shares during the last quarter. Blue Trust Inc. grew its position in shares of Scotts Miracle-Gro by 83.6% during the third quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Scotts Miracle-Gro by 80.1% during the second 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 hedge funds and other institutional investors.

Scotts Miracle-Gro Stock Performance

Scotts Miracle-Gro stock opened at $75.80 on Friday. The Scotts Miracle-Gro Company has a one year low of $53.43 and a one year high of $93.90. The business has a fifty day moving average of $82.55 and a two-hundred day moving average of $73.10. The company has a market cap of $4.31 billion, a P/E ratio of -109.86 and a beta of 1.76.

Scotts Miracle-Gro Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently -382.61%.

Analyst Ratings Changes

Several brokerages recently weighed in on SMG. Truist Financial decreased their price target on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on 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 decreased their price target 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. 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 report on Thursday, November 7th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $78.60.

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.