Aaron Wealth Advisors LLC Purchases Shares of 5,711 The Scotts Miracle-Gro Company $SMG

Key Points

• Aaron Wealth Advisors LLC invested approximately $377,000 in The Scotts Miracle-Gro Company by acquiring 5,711 shares during the 2nd quarter.
• The company recently announced a quarterly dividend of $0.66 per share, reflecting an annualized yield of 4.4%.
• Scotts Miracle-Gro has a consensus rating of "Moderate Buy" with a target price averaging $71.17 according to analyst ratings.

Aaron Wealth Advisors LLC purchased a new position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,711 shares of the basic materials company's stock, valued at approximately $377,000.

Other hedge funds also recently bought and sold shares of the company. Moors & Cabot Inc. grew its holdings in Scotts Miracle-Gro by 3.1% during the 1st quarter. Moors & Cabot Inc. now owns 6,415 shares of the basic materials company's stock valued at $352,000 after buying an additional 191 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Scotts Miracle-Gro by 2.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,826 shares of the basic materials company's stock valued at $484,000 after buying an additional 200 shares in the last quarter. State of Michigan Retirement System grew its holdings in Scotts Miracle-Gro by 2.0% during the 1st quarter. State of Michigan Retirement System now owns 10,300 shares of the basic materials company's stock valued at $565,000 after buying an additional 200 shares in the last quarter. Sagespring Wealth Partners LLC grew its holdings in Scotts Miracle-Gro by 4.8% during the 1st quarter. Sagespring Wealth Partners LLC now owns 4,524 shares of the basic materials company's stock valued at $248,000 after buying an additional 207 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in Scotts Miracle-Gro by 2.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the basic materials company's stock valued at $664,000 after buying an additional 300 shares in 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, 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 transaction, the director directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark J. Scheiwer purchased 1,790 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was bought at an average cost of $61.32 per share, with a total value of $109,762.80. Following the completion of the acquisition, the executive vice president directly owned 10,130 shares of the company's stock, valued at $621,171.60. This trade represents a 21.46% increase in their position. The disclosure for this purchase can be found here. Insiders own 25.37% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SMG. Truist Financial set a $80.00 price objective on shares of Scotts Miracle-Gro and gave the company a "buy" rating in a report on Monday, July 14th. Stifel Nicolaus lowered their price target on 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. Wells Fargo & Company raised their price target on Scotts Miracle-Gro from $72.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. UBS Group set a $68.00 price target on Scotts Miracle-Gro and gave the company a "neutral" rating in a research note on Thursday, July 31st. Finally, Zacks Research upgraded Scotts Miracle-Gro from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $71.17.

Scotts Miracle-Gro Trading Up 0.2%

Shares of SMG stock traded up $0.10 during trading hours on Monday, reaching $58.15. 100,810 shares of the company's stock were exchanged, compared to its average volume of 1,014,289. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $93.90. The stock has a market cap of $3.36 billion, a PE ratio of 76.51 and a beta of 1.98. The stock's fifty day moving average price is $62.99 and its two-hundred day moving average price is $60.36.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its earnings results on Wednesday, July 30th. The basic materials company reported $2.59 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the company posted $2.31 earnings per share. The company's 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, equities analysts expect that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were issued a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.5%. Scotts Miracle-Gro's payout ratio is 347.37%.

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.