The Scotts Miracle-Gro Company $SMG Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC lowered its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 21.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,034 shares of the basic materials company’s stock after selling 3,922 shares during the period. Greenwood Capital Associates LLC’s holdings in Scotts Miracle-Gro were worth $926,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. American National Bank & Trust acquired a new stake in Scotts Miracle-Gro during the 2nd quarter valued at $28,000. Spire Wealth Management grew its holdings in Scotts Miracle-Gro by 477.9% during the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 454 shares in the last quarter. UMB Bank n.a. grew its holdings in Scotts Miracle-Gro by 479.4% during the 1st quarter. UMB Bank n.a. now owns 562 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 465 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in Scotts Miracle-Gro during the 2nd quarter valued at $45,000. Finally, Avalon Trust Co acquired a new stake in Scotts Miracle-Gro during the 1st quarter valued at $41,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Performance

Scotts Miracle-Gro stock opened at $57.81 on Friday. The firm’s 50-day moving average is $60.82 and its 200-day moving average is $60.11. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $93.90. The company has a market cap of $3.34 billion, a P/E ratio of 76.06 and a beta of 1.96.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.40. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the firm posted $2.31 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. As a group, sell-side analysts predict that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, August 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is presently 347.37%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SMG shares. Jefferies Financial Group set a $71.00 price target on shares of Scotts Miracle-Gro in a report on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Scotts Miracle-Gro in a report on Saturday, September 27th. Stifel Nicolaus lowered their price target on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating for the company in a report on Monday, August 4th. Truist Financial set a $80.00 price objective on shares of Scotts Miracle-Gro and gave the stock a “buy” rating in a report on Monday, July 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.17.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $62.28, for a total value of $4,359,600.00. Following the sale, the director owned 13,274,274 shares in the company, valued at approximately $826,721,784.72. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark J. Scheiwer purchased 1,790 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were acquired at an average cost of $61.32 per share, for a total transaction of $109,762.80. Following the acquisition, the executive vice president owned 10,130 shares of the company’s stock, valued at approximately $621,171.60. The trade was a 21.46% increase in their position. The disclosure for this purchase can be found here. Company insiders own 25.37% of the company’s stock.

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.