Advisors Asset Management Inc. Has $4.74 Million Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Advisors Asset Management Inc. lifted its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,706 shares of the basic materials company’s stock after buying an additional 1,181 shares during the period. Advisors Asset Management Inc.’s holdings in Scotts Miracle-Gro were worth $4,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Scotts Miracle-Gro by 1.0% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,201,683 shares of the basic materials company’s stock worth $338,421,000 after acquiring an additional 49,262 shares in the last quarter. Earnest Partners LLC raised its holdings in Scotts Miracle-Gro by 1.4% during the second quarter. Earnest Partners LLC now owns 3,155,653 shares of the basic materials company’s stock worth $205,307,000 after acquiring an additional 42,500 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Scotts Miracle-Gro by 24.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,726,338 shares of the basic materials company’s stock worth $203,359,000 after acquiring an additional 542,406 shares in the last quarter. Millennium Management LLC raised its holdings in Scotts Miracle-Gro by 6.8% during the second quarter. Millennium Management LLC now owns 815,371 shares of the basic materials company’s stock worth $53,048,000 after acquiring an additional 52,136 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Scotts Miracle-Gro by 194.2% during the second quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock worth $49,515,000 after acquiring an additional 502,353 shares in the last quarter. Institutional investors own 74.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group dropped their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price objective 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. Stifel Nicolaus upped 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. Truist Financial dropped their price objective 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. Finally, Wells Fargo & Company dropped their price objective 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. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $78.60.

Scotts Miracle-Gro Trading Up 1.7 %

Scotts Miracle-Gro stock opened at $76.47 on Friday. The Scotts Miracle-Gro Company has a 12 month low of $53.43 and a 12 month high of $93.90. The stock’s 50 day moving average is $81.98 and its 200-day moving average is $72.80. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of -110.83 and a beta of 1.76.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s payout ratio is -382.61%.

About Scotts Miracle-Gro

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.