Brooklyn Investment Group Takes Position in The Scotts Miracle-Gro Company (NYSE:SMG)

Brooklyn Investment Group bought a new stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 579 shares of the basic materials company’s stock, valued at approximately $50,000.

Several other large investors have also recently modified their holdings of the stock. OLD National Bancorp IN increased its position in shares of 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 valued at $438,000 after purchasing an additional 131 shares during the last quarter. Nicollet Investment Management Inc. boosted its holdings 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 valued at $1,114,000 after acquiring an additional 135 shares during the period. Hexagon Capital Partners LLC boosted its holdings 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 valued at $36,000 after acquiring an additional 161 shares during the period. Blue Trust Inc. boosted its holdings 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 valued at $32,000 after acquiring an additional 168 shares during the period. Finally, Versant Capital Management Inc boosted its holdings 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 valued at $25,000 after acquiring an additional 173 shares during the period. Institutional investors own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

SMG has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Truist Financial dropped their price objective on Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating for the company in a report on Friday, November 8th. UBS Group dropped their price objective on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. dropped their price objective 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. Five research 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 an average rating of “Hold” and a consensus price target of $78.60.

Scotts Miracle-Gro Trading Up 1.7 %

Shares of 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 stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -110.75 and a beta of 1.76. The stock has a fifty day simple moving average of $82.58 and a two-hundred day simple moving average of $73.12.

Scotts Miracle-Gro Dividend Announcement

The business also recently declared 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 3.42%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s payout ratio is -382.61%.

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.