Farther Finance Advisors LLC Acquires 1,330 Shares of The Scotts Miracle-Gro Company $SMG

Farther Finance Advisors LLC raised its holdings in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 621.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,544 shares of the basic materials company’s stock after acquiring an additional 1,330 shares during the period. Farther Finance Advisors LLC’s holdings in Scotts Miracle-Gro were worth $102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 118,729 shares during the last quarter. Millennium Management LLC raised its position in shares of 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 position in shares of 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 raised its position in shares of 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 valued at $16,168,000 after acquiring an additional 35,730 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Scotts Miracle-Gro by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 216,304 shares of the basic materials company’s stock valued at $11,873,000 after acquiring an additional 647 shares during the last quarter. Institutional investors own 74.07% of the company’s stock.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, EVP Mark J. Scheiwer acquired 1,790 shares of Scotts Miracle-Gro stock in a transaction dated Wednesday, September 3rd. The stock was bought at an average cost of $61.32 per share, for a total transaction of $109,762.80. Following the purchase, the executive vice president directly owned 10,130 shares in the company, valued at approximately $621,171.60. This represents a 21.46% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Hagedorn Partnership, L.P. sold 70,000 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $62.28, for a total transaction of $4,359,600.00. Following the transaction, the director 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 disclosure for this sale can be found here. Corporate insiders own 25.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. UBS Group lowered their price objective on shares of Scotts Miracle-Gro from $68.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday. Weiss Ratings restated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research report on Saturday, September 27th. Stifel Nicolaus lowered 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. Finally, Wall Street Zen upgraded shares of Scotts Miracle-Gro from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Scotts Miracle-Gro has a consensus rating of “Moderate Buy” and a consensus target price of $69.17.

Scotts Miracle-Gro Trading Down 1.1%

Shares of NYSE SMG opened at $57.81 on Friday. The firm has a market cap of $3.34 billion, a PE ratio of 76.06 and a beta of 1.96. The Scotts Miracle-Gro Company has a 1-year low of $45.61 and a 1-year high of $93.90. The company has a fifty day moving average price of $60.82 and a 200 day moving average price of $60.11.

Scotts Miracle-Gro (NYSE:SMG) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.40. The firm 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 revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.31 EPS. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. Equities research analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

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

Scotts Miracle-Gro 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.