PNC Financial Services Group Inc. Purchases 222 Shares of The Scotts Miracle-Gro Company (NYSE:SMG)

PNC Financial Services Group Inc. grew its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,264 shares of the basic materials company’s stock after buying an additional 222 shares during the period. PNC Financial Services Group Inc. owned approximately 0.05% of Scotts Miracle-Gro worth $2,624,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Caprock Group LLC acquired a new position in shares of Scotts Miracle-Gro in the third quarter valued at about $227,000. Chesapeake Capital Corp IL boosted its holdings in Scotts Miracle-Gro by 27.9% in the 3rd quarter. Chesapeake Capital Corp IL now owns 5,079 shares of the basic materials company’s stock valued at $434,000 after purchasing an additional 1,108 shares during the period. Mizuho Markets Americas LLC acquired a new position in shares of Scotts Miracle-Gro during the 3rd quarter worth approximately $1,321,000. Nicollet Investment Management Inc. grew its position in shares of 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 purchasing an additional 135 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Scotts Miracle-Gro during the third quarter worth approximately $421,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Up 5.0 %

NYSE:SMG opened at $81.73 on Tuesday. The firm has a market capitalization of $4.64 billion, a PE ratio of -118.45 and a beta of 1.76. The Scotts Miracle-Gro Company has a twelve month low of $53.43 and a twelve month high of $93.90. The stock’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 business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Friday, November 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently -382.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SMG. Wells Fargo & Company cut their price target on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. reduced their target price on Scotts Miracle-Gro from $85.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. UBS Group decreased their price target on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Stifel Nicolaus upped their price objective on shares of Scotts Miracle-Gro from $75.00 to $81.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Truist Financial decreased their target price on shares of Scotts Miracle-Gro from $90.00 to $70.00 and set a “hold” rating on the stock in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.