Truvestments Capital LLC Invests $107,000 in The Scotts Miracle-Gro Company (NYSE:SMG)

Truvestments Capital LLC acquired a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,238 shares of the basic materials company’s stock, valued at approximately $107,000.

Several other institutional investors have also modified their holdings of SMG. OLD National Bancorp IN raised its stake in Scotts Miracle-Gro by 2.7% during the 3rd 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 in the last quarter. Nicollet Investment Management Inc. raised its stake in Scotts Miracle-Gro by 1.1% during the 3rd 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 in the last quarter. Hexagon Capital Partners LLC raised its stake in Scotts Miracle-Gro by 41.3% during the 2nd 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 in the last quarter. Blue Trust Inc. raised its stake in Scotts Miracle-Gro by 83.6% during the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Scotts Miracle-Gro by 80.1% during the 2nd 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 owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Trading Down 4.8 %

Shares of Scotts Miracle-Gro stock opened at $77.78 on Wednesday. The Scotts Miracle-Gro Company has a 52-week low of $53.43 and a 52-week high of $93.90. The company’s 50-day simple moving average is $82.37 and its 200-day simple moving average is $73.01.

Scotts Miracle-Gro Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on SMG. UBS Group cut their price target 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. Truist Financial cut their price target on shares of 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. JPMorgan Chase & Co. dropped their price objective on shares of 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 lifted their price objective on shares of 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, 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 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 company. Based on data from MarketBeat.com, Scotts Miracle-Gro currently has a consensus rating of “Hold” and an average target price of $78.60.

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.