The Scotts Miracle-Gro Company $SMG Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in The Scotts Miracle-Gro Company (NYSE:SMG) by 3.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 515,591 shares of the basic materials company’s stock after selling 19,632 shares during the period. Bank of New York Mellon Corp’s holdings in Scotts Miracle-Gro were worth $34,008,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SMG. Spire Wealth Management increased its holdings in Scotts Miracle-Gro by 32.1% in the second quarter. Spire Wealth Management now owns 725 shares of the basic materials company’s stock valued at $48,000 after buying an additional 176 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of Scotts Miracle-Gro by 3.1% in the 1st quarter. Moors & Cabot Inc. now owns 6,415 shares of the basic materials company’s stock worth $352,000 after acquiring an additional 191 shares during the period. Wellington Shields Capital Management LLC increased its stake in Scotts Miracle-Gro by 16.1% in the 2nd quarter. Wellington Shields Capital Management LLC now owns 2,001 shares of the basic materials company’s stock valued at $132,000 after purchasing an additional 278 shares in the last quarter. Boyar Asset Management Inc. raised its holdings in Scotts Miracle-Gro by 1.0% during the second quarter. Boyar Asset Management Inc. now owns 28,106 shares of the basic materials company’s stock worth $1,854,000 after purchasing an additional 289 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Scotts Miracle-Gro by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the basic materials company’s stock worth $664,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Price Performance

Scotts Miracle-Gro stock opened at $58.39 on Friday. The stock has a market capitalization of $3.37 billion, a P/E ratio of 76.83 and a beta of 1.98. The Scotts Miracle-Gro Company has a 12-month low of $45.61 and a 12-month high of $83.55. The firm’s 50-day moving average is $57.19 and its two-hundred day moving average is $60.58.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.88) by ($0.08). Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The firm had revenue of $387.40 million for the quarter, compared to analysts’ expectations of $396.75 million. During the same period in the previous year, the company posted ($2.31) EPS. The business’s quarterly revenue was down 6.6% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. As a group, analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Stockholders of record on Friday, November 21st will be issued a dividend of $0.66 per share. The ex-dividend date is Friday, November 21st. This represents a $2.64 annualized dividend and a dividend yield of 4.5%. Scotts Miracle-Gro’s dividend payout ratio (DPR) is 109.09%.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 56,633 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $63.02, for a total value of $3,569,011.66. Following the sale, the director directly owned 13,217,641 shares of the company’s stock, valued at approximately $832,975,735.82. This trade represents a 0.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark J. Scheiwer purchased 1,790 shares of the stock in a transaction on Wednesday, September 3rd. The stock was acquired at an average price of $61.32 per share, with a total value of $109,762.80. Following the acquisition, the executive vice president directly owned 10,130 shares in the company, valued at $621,171.60. This trade represents a 21.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 25.37% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group raised their price target on Scotts Miracle-Gro from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Wall Street Zen cut shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a report on Wednesday, October 8th. Stifel Nicolaus set a $70.00 target price on shares of Scotts Miracle-Gro and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, UBS Group lowered their price target on shares of Scotts Miracle-Gro from $62.00 to $61.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Scotts Miracle-Gro presently has an average rating of “Moderate Buy” and an average price target of $69.50.

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.