Quantbot Technologies LP Sells 57,862 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

Quantbot Technologies LP lessened its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 51.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,977 shares of the basic materials company’s stock after selling 57,862 shares during the quarter. Quantbot Technologies LP’s holdings in Scotts Miracle-Gro were worth $4,767,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SMG. OLD National Bancorp IN grew its holdings in Scotts Miracle-Gro by 2.7% in the 3rd quarter. OLD National Bancorp IN now owns 5,049 shares of the basic materials company’s stock valued at $438,000 after buying an additional 131 shares in the last quarter. Nicollet Investment Management Inc. grew its stake in shares of Scotts Miracle-Gro by 1.1% in the third 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 in the last quarter. Hexagon Capital Partners LLC increased its position in Scotts Miracle-Gro by 41.3% during the second 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 during the period. Blue Trust Inc. raised its stake in Scotts Miracle-Gro by 83.6% in the 3rd quarter. Blue Trust Inc. now owns 369 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Scotts Miracle-Gro by 80.1% in the 2nd quarter. Versant Capital Management Inc now owns 389 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 173 shares during the period. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Trading Down 4.8 %

Shares of SMG 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 stock has a fifty day moving average of $82.37 and a 200-day moving average of $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. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s payout ratio is -382.61%.

Wall Street Analyst Weigh In

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