Brooklyn Investment Group Makes New $50,000 Investment in The Scotts Miracle-Gro Company (NYSE:SMG)

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

Several other institutional investors and hedge funds have also bought and sold shares of SMG. AQR Capital Management LLC boosted its position in Scotts Miracle-Gro by 194.2% in the second quarter. AQR Capital Management LLC now owns 761,063 shares of the basic materials company’s stock worth $49,515,000 after purchasing an additional 502,353 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Scotts Miracle-Gro by 8,330.2% during the 3rd quarter. International Assets Investment Management LLC now owns 281,485 shares of the basic materials company’s stock valued at $24,405,000 after buying an additional 278,146 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Scotts Miracle-Gro by 309.5% during the 2nd quarter. Retirement Systems of Alabama now owns 215,717 shares of the basic materials company’s stock valued at $14,035,000 after buying an additional 163,037 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Scotts Miracle-Gro by 5.0% during the 3rd quarter. Pacer Advisors Inc. now owns 3,172,800 shares of the basic materials company’s stock valued at $275,082,000 after buying an additional 151,354 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Scotts Miracle-Gro during the 2nd quarter valued at about $7,341,000. 74.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on Scotts Miracle-Gro from $95.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Truist Financial decreased their target price on 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. Stifel Nicolaus lifted their target price on Scotts Miracle-Gro from $75.00 to $81.00 and gave the company a “hold” rating in a research note on Monday, November 4th. UBS Group decreased their target price on Scotts Miracle-Gro from $90.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. decreased their target price on 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. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Scotts Miracle-Gro currently has a consensus rating of “Hold” and a consensus target price of $78.60.

Scotts Miracle-Gro Price Performance

NYSE:SMG opened at $77.09 on Friday. The Scotts Miracle-Gro Company has a 1 year low of $53.43 and a 1 year high of $93.90. The stock’s 50 day simple moving average is $82.58 and its two-hundred day simple moving average is $73.12. The company has a market cap of $4.43 billion, a price-to-earnings ratio of -110.75 and a beta of 1.76.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a 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.