BNP Paribas Financial Markets raised its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 228.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 252,798 shares of the basic materials company's stock after purchasing an additional 175,719 shares during the quarter. BNP Paribas Financial Markets owned 0.44% of Scotts Miracle-Gro worth $21,918,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Comerica Bank boosted its holdings in Scotts Miracle-Gro by 58.7% during the 1st quarter. Comerica Bank now owns 77,183 shares of the basic materials company's stock valued at $5,757,000 after acquiring an additional 28,557 shares during the period. Atria Investments Inc increased its stake in Scotts Miracle-Gro by 22.9% during the 1st quarter. Atria Investments Inc now owns 38,820 shares of the basic materials company's stock worth $2,896,000 after buying an additional 7,231 shares during the period. Cetera Investment Advisers lifted its holdings in Scotts Miracle-Gro by 974.4% during the 1st quarter. Cetera Investment Advisers now owns 41,987 shares of the basic materials company's stock worth $3,132,000 after buying an additional 38,079 shares in the last quarter. Cetera Advisors LLC boosted its position in Scotts Miracle-Gro by 65.0% in the 1st quarter. Cetera Advisors LLC now owns 5,198 shares of the basic materials company's stock valued at $388,000 after buying an additional 2,048 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Scotts Miracle-Gro by 80.1% in the second quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company's stock worth $25,000 after acquiring an additional 173 shares in the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.
SMG has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price 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. Stifel Nicolaus lifted 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. UBS Group lowered their price objective on Scotts Miracle-Gro from $90.00 to $77.00 and set a "neutral" rating for the company in a research 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 dropped their price objective on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an "overweight" rating on the stock in a research report 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $78.60.
Check Out Our Latest Stock Analysis on Scotts Miracle-Gro
SMG stock opened at $77.09 on Friday. The Scotts Miracle-Gro Company has a twelve month low of $53.43 and a twelve month high of $93.90. The company's 50 day moving average is $82.64 and its two-hundred day moving average is $73.17.
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 dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, November 22nd. Scotts Miracle-Gro's dividend payout ratio (DPR) is currently -382.61%.
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.
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