Atom Investors LP acquired a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG – Free Report) in the 4th quarter, Holdings Channel.com reports. The fund acquired 113,989 shares of the basic materials company’s stock, valued at approximately $6,651,000.
Several other institutional investors have also recently modified their holdings of SMG. Captrust Financial Advisors raised its position in shares of Scotts Miracle-Gro by 12,034.5% during the 2nd quarter. Captrust Financial Advisors now owns 1,008,623 shares of the basic materials company’s stock worth $66,529,000 after purchasing an additional 1,000,311 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Scotts Miracle-Gro by 458.7% during the 2nd quarter. AQR Capital Management LLC now owns 822,743 shares of the basic materials company’s stock worth $54,268,000 after purchasing an additional 675,493 shares during the last quarter. Brandes Investment Partners LP raised its position in shares of Scotts Miracle-Gro by 362.8% during the 4th quarter. Brandes Investment Partners LP now owns 737,546 shares of the basic materials company’s stock worth $43,036,000 after purchasing an additional 578,174 shares during the last quarter. Norges Bank acquired a new position in shares of Scotts Miracle-Gro during the 4th quarter worth approximately $32,595,000. Finally, Ameriprise Financial Inc. raised its position in shares of Scotts Miracle-Gro by 163.0% in the second quarter. Ameriprise Financial Inc. now owns 899,690 shares of the basic materials company’s stock valued at $59,344,000 after buying an additional 557,647 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.
Scotts Miracle-Gro Price Performance
NYSE:SMG opened at $63.05 on Wednesday. The firm has a 50 day simple moving average of $61.15 and a 200-day simple moving average of $61.99. The firm has a market cap of $3.67 billion, a PE ratio of 35.22 and a beta of 1.84. The Scotts Miracle-Gro Company has a 1-year low of $52.00 and a 1-year high of $72.35.
Scotts Miracle-Gro Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Friday, May 22nd were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $2.64 annualized dividend and a yield of 4.2%. Scotts Miracle-Gro’s dividend payout ratio is 147.49%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the stock. UBS Group reissued a “neutral” rating and issued a $63.00 price objective on shares of Scotts Miracle-Gro in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $70.00 to $67.00 in a research report on Thursday, March 26th. Stifel Nicolaus cut their price objective on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a research report on Monday, June 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Scotts Miracle-Gro in a research report on Monday, May 4th. Finally, Wells Fargo & Company cut their price objective on shares of Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Scotts Miracle-Gro presently has a consensus rating of “Moderate Buy” and an average target price of $72.67.
Check Out Our Latest Stock Report on SMG
Scotts Miracle-Gro Company Profile
Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.
Headquartered in Marysville, Ohio, the company traces its roots to O.M.
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