The Scotts Miracle-Gro Company $SMG Stock Holdings Increased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC boosted its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 20.8% during the second quarter, HoldingsChannel.com reports. The firm owned 5,467 shares of the basic materials company’s stock after acquiring an additional 943 shares during the period. Sagespring Wealth Partners LLC’s holdings in Scotts Miracle-Gro were worth $361,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. American National Bank & Trust purchased a new position in shares of Scotts Miracle-Gro during the 2nd quarter valued at $28,000. Spire Wealth Management boosted its position in Scotts Miracle-Gro by 477.9% during the first 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 during the last quarter. Byrne Asset Management LLC acquired a new stake in Scotts Miracle-Gro during the second quarter valued at $45,000. Avalon Trust Co purchased a new position in Scotts Miracle-Gro in the first quarter valued at about $41,000. Finally, Hilltop National Bank acquired a new position in Scotts Miracle-Gro in the 2nd quarter worth about $66,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

Scotts Miracle-Gro Stock Performance

SMG opened at $54.26 on Friday. The firm has a market cap of $3.13 billion, a P/E ratio of 71.40 and a beta of 1.96. The business has a 50 day moving average price of $59.53 and a 200 day moving average price of $60.05. The Scotts Miracle-Gro Company has a twelve month low of $45.61 and a twelve month high of $93.90.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 EPS for the quarter, beating the consensus estimate of $2.19 by $0.40. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the company posted $2.31 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. As a group, analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, August 22nd. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 347.37%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group set a $71.00 price target on Scotts Miracle-Gro in a report on Friday, September 26th. Wall Street Zen upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Wells Fargo & Company dropped their price target on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. UBS Group cut their price target on shares of Scotts Miracle-Gro from $68.00 to $62.00 and set a “neutral” rating on the stock in a report on Thursday, October 2nd. Finally, 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. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Scotts Miracle-Gro presently 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 Scotts Miracle-Gro stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $62.28, for a total value of $4,359,600.00. Following the transaction, the director directly owned 13,274,274 shares of the company’s stock, valued at $826,721,784.72. The trade was a 0.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark J. Scheiwer acquired 1,790 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average price of $61.32 per share, for a total transaction of $109,762.80. Following the purchase, the executive vice president owned 10,130 shares of the company’s stock, valued at $621,171.60. The trade was a 21.46% increase in their position. The disclosure for this purchase can be found here. Insiders own 25.37% of the company’s stock.

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.