Cetera Investment Advisers Decreases Stock Position in The Scotts Miracle-Gro Company $SMG

Cetera Investment Advisers cut its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG) by 40.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,982 shares of the basic materials company’s stock after selling 14,427 shares during the quarter. Cetera Investment Advisers’ holdings in Scotts Miracle-Gro were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC lifted its position in Scotts Miracle-Gro by 288.8% in 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 purchasing an additional 1,055,672 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of 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 buying an additional 296,448 shares during the period. Sound Income Strategies LLC raised its holdings in Scotts Miracle-Gro by 219,313.5% during the 2nd quarter. Sound Income Strategies LLC now owns 162,366 shares of the basic materials company’s stock valued at $10,710,000 after buying 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. grew its holdings in Scotts Miracle-Gro by 149.5% in the 1st quarter. Citigroup Inc. now owns 192,437 shares of the basic materials company’s stock worth $10,563,000 after acquiring an additional 115,308 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors.

Insider Transactions at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, EVP Mark J. Scheiwer bought 1,790 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was acquired at an average price of $61.32 per share, with a total value of $109,762.80. Following the completion of the purchase, the executive vice president owned 10,130 shares of the company’s stock, valued at approximately $621,171.60. This trade represents a 21.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $63.02, for a total value of $3,569,011.66. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. 25.37% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Jefferies Financial Group upped their price objective on shares of Scotts Miracle-Gro from $71.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Stifel Nicolaus set a $70.00 price objective on Scotts Miracle-Gro and gave the stock a “buy” rating in a report on Thursday, November 6th. UBS Group cut their price objective on Scotts Miracle-Gro from $62.00 to $61.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research note on Wednesday, October 8th. Finally, Zacks Research lowered Scotts Miracle-Gro from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.50.

Scotts Miracle-Gro Stock Up 0.6%

SMG opened at $56.95 on Tuesday. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $79.11. The stock has a market cap of $3.30 billion, a PE ratio of 74.93 and a beta of 1.98. The business has a 50 day moving average of $55.86 and a 200-day moving average of $60.62.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.88) by ($0.08). Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.The firm had revenue of $387.30 million during the quarter, compared to the consensus estimate of $396.75 million. During the same quarter last year, the company posted ($2.31) EPS. Scotts Miracle-Gro’s revenue for the quarter was down 6.6% compared to the same quarter last year. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. Equities analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 21st will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, November 21st. This represents a $2.64 annualized dividend and a yield of 4.6%. Scotts Miracle-Gro’s payout ratio is presently 109.09%.

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.