The Scotts Miracle-Gro Company $SMG Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its position in The Scotts Miracle-Gro Company (NYSE:SMG) by 215.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 31,853 shares of the basic materials company’s stock after purchasing an additional 21,747 shares during the period. Thrivent Financial for Lutherans owned 0.06% of Scotts Miracle-Gro worth $2,101,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. American National Bank & Trust acquired a new position in Scotts Miracle-Gro during the second quarter worth approximately $28,000. Byrne Asset Management LLC acquired a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at $45,000. Spire Wealth Management increased its holdings in shares of Scotts Miracle-Gro by 32.1% in the 2nd quarter. Spire Wealth Management now owns 725 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 176 shares during the period. First Horizon Advisors Inc. raised its position in Scotts Miracle-Gro by 835.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 907 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 810 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in Scotts Miracle-Gro during the 2nd quarter worth $66,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.

Scotts Miracle-Gro Trading Down 1.5%

NYSE SMG opened at $58.36 on Wednesday. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 24.12 and a beta of 1.97. The business’s 50 day moving average is $55.65 and its two-hundred day moving average is $60.11. The Scotts Miracle-Gro Company has a 12-month low of $45.61 and a 12-month high of $79.11.

Scotts Miracle-Gro (NYSE:SMG) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($1.96) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $396.75 million. During the same quarter last year, the firm earned ($2.31) earnings per share. The firm’s quarterly revenue 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 forecast that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 21st were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, November 21st. Scotts Miracle-Gro’s dividend payout ratio (DPR) is currently 109.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Wall Street Zen lowered shares of Scotts Miracle-Gro from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Jefferies Financial Group boosted their price target on Scotts Miracle-Gro from $71.00 to $74.00 and gave the company a “buy” rating in a research report 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 research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Scotts Miracle-Gro in a research note on Wednesday, October 8th. Finally, Zacks Research cut 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.50.

Scotts Miracle-Gro Company Profile

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.