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

Quantbot Technologies LP trimmed its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 51.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,977 shares of the basic materials company’s stock after selling 57,862 shares during the period. Quantbot Technologies LP owned approximately 0.10% of Scotts Miracle-Gro worth $4,767,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Scotts Miracle-Gro by 1.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,201,683 shares of the basic materials company’s stock valued at $338,421,000 after acquiring an additional 49,262 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Scotts Miracle-Gro by 5.0% in the 3rd quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company’s stock worth $275,082,000 after buying an additional 151,354 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Scotts Miracle-Gro by 1.4% during the 2nd quarter. Earnest Partners LLC now owns 3,155,653 shares of the basic materials company’s stock worth $205,307,000 after buying an additional 42,500 shares during the period. Millennium Management LLC boosted its stake in Scotts Miracle-Gro by 6.8% in the 2nd quarter. Millennium Management LLC now owns 815,371 shares of the basic materials company’s stock valued at $53,048,000 after buying an additional 52,136 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Scotts Miracle-Gro by 194.2% during the second quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock worth $49,515,000 after acquiring an additional 502,353 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Analyst Ratings Changes

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

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 firm has a fifty day moving average of $82.37 and a two-hundred day moving average of $73.01.

Scotts Miracle-Gro Dividend Announcement

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

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.