Aaron Wealth Advisors LLC Invests $377,000 in 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 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,711 shares of the basic materials company's stock, valued at approximately $377,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Moors & Cabot Inc. increased its holdings in Scotts Miracle-Gro by 3.1% in 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 during the period. Oregon Public Employees Retirement Fund boosted its position in shares of 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 worth $484,000 after acquiring an additional 200 shares in the last quarter. State of Michigan Retirement System increased its stake in Scotts Miracle-Gro by 2.0% in the first quarter. State of Michigan Retirement System now owns 10,300 shares of the basic materials company's stock valued at $565,000 after acquiring an additional 200 shares during the last quarter. Sagespring Wealth Partners LLC raised its position in Scotts Miracle-Gro by 4.8% during the first quarter. Sagespring Wealth Partners LLC now owns 4,524 shares of the basic materials company's stock valued at $248,000 after purchasing an additional 207 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in Scotts Miracle-Gro by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the basic materials company's stock valued at $664,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 74.07% of the company's stock.

Scotts Miracle-Gro Stock Up 0.8%

Shares of SMG stock traded up $0.46 during mid-day trading on Monday, reaching $58.51. 697,348 shares of the stock traded hands, compared to its average volume of 632,126. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 76.99 and a beta of 1.98. The stock's fifty day simple moving average is $62.77 and its two-hundred day simple moving average is $60.34. The Scotts Miracle-Gro Company has a 1-year low of $45.61 and a 1-year high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.40. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.The firm's revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.31 earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. On average, equities research analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.64 annualized dividend and a dividend yield of 4.5%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently 347.37%.

Analyst Upgrades and Downgrades

SMG has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. UBS Group set a $68.00 price objective on Scotts Miracle-Gro and gave the company a "neutral" rating in a research note on Thursday, July 31st. Wall Street Zen raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Truist Financial set a $80.00 price target on shares of Scotts Miracle-Gro and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus decreased their price target on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating on the stock in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $71.17.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, EVP Mark J. Scheiwer acquired 1,790 shares of Scotts Miracle-Gro stock in a transaction that occurred on Wednesday, September 3rd. The shares were bought 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 directly owned 10,130 shares in the company, valued at $621,171.60. This trade represents a 21.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hagedorn Partnership, L.P. sold 70,000 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $62.28, for a total value of $4,359,600.00. Following the transaction, the director directly 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. 25.37% of the stock is currently owned by insiders.

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.