Boyar Asset Management Inc. Acquires 289 Shares of The Scotts Miracle-Gro Company $SMG

Boyar Asset Management Inc. grew its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,106 shares of the basic materials company’s stock after purchasing an additional 289 shares during the period. Scotts Miracle-Gro makes up about 1.2% of Boyar Asset Management Inc.’s holdings, making the stock its 17th biggest position. Boyar Asset Management Inc.’s holdings in Scotts Miracle-Gro were worth $1,854,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SMG. Millennium Management LLC grew its stake in Scotts Miracle-Gro by 288.8% during the first quarter. Millennium Management LLC now owns 1,421,220 shares of the basic materials company’s stock valued at $78,011,000 after acquiring an additional 1,055,672 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in Scotts Miracle-Gro by 770.3% in the first quarter. Cubist Systematic Strategies LLC now owns 334,934 shares of the basic materials company’s stock worth $18,385,000 after purchasing an additional 296,448 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Scotts Miracle-Gro by 219,313.5% in the second quarter. Sound Income Strategies LLC now owns 162,366 shares of the basic materials company’s stock worth $10,710,000 after purchasing an additional 162,292 shares during the last quarter. Vanguard Group Inc. boosted its position in Scotts Miracle-Gro by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 4,645,267 shares of the basic materials company’s stock valued at $254,979,000 after buying an additional 118,729 shares during the period. Finally, Citigroup Inc. boosted its position in Scotts Miracle-Gro by 149.5% during the 1st quarter. Citigroup Inc. now owns 192,437 shares of the basic materials company’s stock valued at $10,563,000 after buying an additional 115,308 shares during the period. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Down 1.1%

NYSE SMG opened at $57.81 on Friday. The Scotts Miracle-Gro Company has a 12 month low of $45.61 and a 12 month high of $93.90. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 76.06 and a beta of 1.96. The company’s 50 day moving average is $60.82 and its two-hundred day moving average is $60.11.

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

Scotts Miracle-Gro Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on SMG shares. Weiss Ratings restated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a report on Saturday, September 27th. Jefferies Financial Group set a $71.00 price target on shares of Scotts Miracle-Gro in a research note on Friday, September 26th. UBS Group decreased their price target on shares of Scotts Miracle-Gro from $68.00 to $62.00 and set a “neutral” rating for the company in a research note on Thursday. Zacks Research downgraded shares of Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Finally, Wall Street Zen raised shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.17.

Insider Buying and Selling at Scotts Miracle-Gro

In related news, Director Hagedorn Partnership, L.P. sold 56,633 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $63.02, for a total value of $3,569,011.66. Following the sale, the director owned 13,217,641 shares in the company, valued at approximately $832,975,735.82. The trade was a 0.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark J. Scheiwer purchased 1,790 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, September 3rd. The stock was acquired at an average price of $61.32 per share, for a total transaction of $109,762.80. Following the transaction, the executive vice president directly 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.

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.