Nuveen LLC Invests $5.48 Million in The Scotts Miracle-Gro Company $SMG

Nuveen LLC bought a new position in The Scotts Miracle-Gro Company (NYSE:SMG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 99,739 shares of the basic materials company’s stock, valued at approximately $5,475,000. Nuveen LLC owned about 0.17% of Scotts Miracle-Gro at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SMG. Spire Wealth Management lifted its stake in shares of Scotts Miracle-Gro by 477.9% during the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 454 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of 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 worth $31,000 after acquiring an additional 465 shares during the last quarter. Avalon Trust Co bought a new stake in shares of Scotts Miracle-Gro during the 1st quarter worth approximately $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Scotts Miracle-Gro during the 4th quarter worth approximately $73,000. Finally, GAMMA Investing LLC lifted its stake in shares of Scotts Miracle-Gro by 31.6% during the 1st quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $89,000 after acquiring an additional 388 shares during the last quarter. Institutional investors own 74.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus decreased their price target on Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating for the company in a research note on Monday, August 4th. Wall Street Zen raised 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 price target on Scotts Miracle-Gro and gave the stock a “buy” rating in a research note on Monday, July 14th. UBS Group set a $68.00 target price on Scotts Miracle-Gro and gave the company a “neutral” rating in a research report on Thursday, July 31st. Finally, JPMorgan Chase & Co. decreased their target price on Scotts Miracle-Gro from $80.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $71.17.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the 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 sale, the director directly owned 13,274,274 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 25.37% of the company’s stock.

Scotts Miracle-Gro Trading Down 2.2%

Shares of NYSE:SMG opened at $62.0070 on Tuesday. The Scotts Miracle-Gro Company has a 12-month low of $45.61 and a 12-month high of $93.90. The business’s fifty day simple moving average is $64.83 and its 200-day simple moving average is $60.57. The company has a market capitalization of $3.58 billion, a PE ratio of 81.59 and a beta of 1.97.

Scotts Miracle-Gro (NYSE:SMG) last announced its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business 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 business posted $2.31 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. Research analysts predict that The Scotts Miracle-Gro Company will post 3.42 EPS 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. Shareholders of record on Friday, August 22nd will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, August 22nd. Scotts Miracle-Gro’s dividend payout ratio is presently 347.37%.

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.