Intech Investment Management LLC Grows Holdings in The Scotts Miracle-Gro Company $SMG

Intech Investment Management LLC boosted its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 154.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 69,065 shares of the basic materials company’s stock after purchasing an additional 41,912 shares during the period. Intech Investment Management LLC owned approximately 0.12% of Scotts Miracle-Gro worth $3,791,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Scotts Miracle-Gro by 2.6% during the first quarter. Vanguard Group Inc. now owns 4,645,267 shares of the basic materials company’s stock worth $254,979,000 after buying an additional 118,729 shares during the period. Millennium Management LLC raised its stake in Scotts Miracle-Gro by 288.8% during the 1st 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 during the last quarter. Cubist Systematic Strategies LLC raised its stake in Scotts Miracle-Gro by 770.3% during the 1st quarter. Cubist Systematic Strategies LLC now owns 334,934 shares of the basic materials company’s stock valued at $18,385,000 after acquiring an additional 296,448 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in Scotts Miracle-Gro by 13.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 294,555 shares of the basic materials company’s stock worth $16,168,000 after acquiring an additional 35,730 shares during the period. Finally, Man Group plc grew its stake in shares of Scotts Miracle-Gro by 24.2% in the 4th quarter. Man Group plc now owns 264,668 shares of the basic materials company’s stock valued at $17,558,000 after purchasing an additional 51,624 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Scotts Miracle-Gro Price Performance

Shares of NYSE SMG opened at $60.78 on Friday. The firm’s 50-day moving average is $63.92 and its two-hundred day moving average is $60.35. The company has a market capitalization of $3.51 billion, a PE ratio of 79.97 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 $93.90.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm posted $2.31 EPS. The company’s quarterly 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. On average, analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal 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 $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Friday, August 22nd. Scotts Miracle-Gro’s dividend payout ratio is currently 347.37%.

Analysts Set New Price Targets

SMG has been the subject of several analyst reports. Wall Street Zen upgraded Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company upped their price objective on shares of Scotts Miracle-Gro from $72.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 9th. Truist Financial set a $80.00 target price on shares of Scotts Miracle-Gro and gave the company a “buy” rating in a report on Monday, July 14th. Zacks Research upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. Finally, Stifel Nicolaus reduced their price objective on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a “hold” rating for the company in a research report on Monday, August 4th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $71.17.

Insider Buying and Selling at Scotts Miracle-Gro

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

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.