The Scotts Miracle-Gro Company (NYSE:SMG) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. reduced its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 5.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,092 shares of the basic materials company’s stock after selling 354 shares during the quarter. Moors & Cabot Inc.’s holdings in Scotts Miracle-Gro were worth $528,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position 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 valued at $25,000 after buying an additional 173 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Scotts Miracle-Gro in the 2nd quarter valued at about $25,000. Global X Japan Co. Ltd. purchased a new position in Scotts Miracle-Gro in the 3rd quarter worth approximately $26,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Scotts Miracle-Gro during the 2nd quarter worth approximately $29,000. Finally, Farther Finance Advisors LLC grew its position in shares of Scotts Miracle-Gro by 427.0% in the third quarter. Farther Finance Advisors LLC now owns 332 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 269 shares in the last quarter. 74.07% of the stock is owned by institutional investors and hedge funds.

Scotts Miracle-Gro Stock Performance

Scotts Miracle-Gro stock opened at $77.86 on Friday. The company’s 50 day simple moving average is $82.15 and its 200-day simple moving average is $72.85. The Scotts Miracle-Gro Company has a 1 year low of $53.43 and a 1 year high of $93.90. The company has a market capitalization of $4.42 billion, a price-to-earnings ratio of -112.84 and a beta of 1.76.

Scotts Miracle-Gro Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SMG shares. Truist Financial reduced their price objective on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered their price target on shares of Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. UBS Group cut their price objective on shares of 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. Stifel Nicolaus boosted their target price on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company cut their price target on shares of Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Scotts Miracle-Gro presently has an average rating of “Hold” and an average price target of $78.60.

Scotts Miracle-Gro Company 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.