Invesco Ltd. Increases Position in The Scotts Miracle-Gro Company $SMG

Invesco Ltd. boosted its holdings in The Scotts Miracle-Gro Company (NYSE:SMG) by 17.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 144,752 shares of the basic materials company’s stock after purchasing an additional 21,318 shares during the period. Invesco Ltd. owned about 0.25% of Scotts Miracle-Gro worth $7,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Oppenheimer & Co. Inc. raised its position in shares of Scotts Miracle-Gro by 21.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,819 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 685 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Scotts Miracle-Gro by 31.6% in the first quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $89,000 after buying an additional 388 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Scotts Miracle-Gro in the first quarter worth $226,000. SG Americas Securities LLC acquired a new stake in Scotts Miracle-Gro in the first quarter valued at $1,011,000. Finally, M&T Bank Corp boosted its stake in Scotts Miracle-Gro by 30.7% during the 1st quarter. M&T Bank Corp now owns 4,543 shares of the basic materials company’s stock valued at $249,000 after acquiring an additional 1,066 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Zacks Research raised shares of Scotts Miracle-Gro from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Wells Fargo & Company boosted their price objective on Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, July 9th. Wall Street Zen upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Truist Financial set a $80.00 target price on Scotts Miracle-Gro and gave the stock a “buy” rating in a research report on Monday, July 14th. Finally, JPMorgan Chase & Co. lowered their price target on Scotts Miracle-Gro from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.17.

Scotts Miracle-Gro Stock Performance

Scotts Miracle-Gro stock opened at $62.0070 on Tuesday. The company has a 50-day simple moving average of $64.83 and a 200-day simple moving average of $60.57. The firm has a market capitalization of $3.58 billion, a P/E ratio of 81.59 and a beta of 1.97. The Scotts Miracle-Gro Company has a one year low of $45.61 and a one year high of $93.90.

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

Scotts Miracle-Gro Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be given a dividend of $0.66 per share. The ex-dividend date is Friday, August 22nd. This represents a $2.64 annualized dividend and a dividend yield of 4.3%. Scotts Miracle-Gro’s dividend payout ratio is currently 347.37%.

Insider Activity at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $62.28, for a total transaction of $4,359,600.00. Following the completion of the transaction, the director owned 13,274,274 shares in the company, valued at approximately $826,721,784.72. This represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.