Edgestream Partners L.P. Grows Stock Holdings in The Scotts Miracle-Gro Company $SMG

Edgestream Partners L.P. lifted its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 711.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,842 shares of the basic materials company’s stock after purchasing an additional 43,698 shares during the quarter. Edgestream Partners L.P. owned 0.09% of Scotts Miracle-Gro worth $3,288,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SMG. Lido Advisors LLC lifted its position in Scotts Miracle-Gro by 1.6% in the 2nd quarter. Lido Advisors LLC now owns 22,703 shares of the basic materials company’s stock worth $1,498,000 after buying an additional 363 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Scotts Miracle-Gro by 18.2% in the 2nd quarter. New York State Common Retirement Fund now owns 255,857 shares of the basic materials company’s stock worth $16,876,000 after acquiring an additional 39,402 shares during the last quarter. Norges Bank purchased a new stake in shares of Scotts Miracle-Gro in the 2nd quarter valued at $28,787,000. Hsbc Holdings PLC grew its holdings in shares of Scotts Miracle-Gro by 74.9% during the 2nd quarter. Hsbc Holdings PLC now owns 86,496 shares of the basic materials company’s stock valued at $5,661,000 after purchasing an additional 37,052 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Scotts Miracle-Gro by 23.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,773 shares of the basic materials company’s stock worth $315,000 after purchasing an additional 907 shares during the period. 74.07% of the stock is currently owned by institutional investors.

Scotts Miracle-Gro Price Performance

SMG opened at $56.52 on Thursday. The Scotts Miracle-Gro Company has a one year low of $45.61 and a one year high of $79.11. The business has a 50 day simple moving average of $55.80 and a two-hundred day simple moving average of $60.54. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 23.36 and a beta of 1.97.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.88) by ($0.08). Scotts Miracle-Gro had a net margin of 4.26% and a negative return on equity of 67.74%. The business had revenue of $387.30 million for the quarter, compared to analysts’ expectations of $396.75 million. During the same period last year, the firm posted ($2.31) earnings per share. Scotts Miracle-Gro’s quarterly revenue was down 6.6% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2025 guidance at 4.150-4.350 EPS. As a group, sell-side analysts expect 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 will be paid on Friday, December 5th. Shareholders of record on Friday, November 21st will be issued a $0.66 dividend. The ex-dividend date is Friday, November 21st. This represents a $2.64 annualized dividend and a yield of 4.7%. Scotts Miracle-Gro’s dividend payout ratio is 109.09%.

Insider Activity at Scotts Miracle-Gro

In other news, Director Hagedorn Partnership, L.P. sold 56,633 shares of Scotts Miracle-Gro stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $63.02, for a total transaction of $3,569,011.66. Following the sale, the director owned 13,217,641 shares of the company’s stock, valued at approximately $832,975,735.82. The trade was a 0.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 25.37% of the company’s stock.

Analysts Set New Price Targets

SMG has been the subject of several recent research reports. Stifel Nicolaus set a $70.00 price target on shares of Scotts Miracle-Gro and gave the stock a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a report on Wednesday, October 8th. UBS Group reduced their price target 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. Wells Fargo & Company lowered their price objective on 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. 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 investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Scotts Miracle-Gro presently has an average rating of “Moderate Buy” and a consensus price target of $69.50.

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.