Bayforest Capital Ltd Invests $1.16 Million in The Scotts Miracle-Gro Company $SMG

Key Points

• Bayforest Capital Ltd has invested approximately $1.16 million in The Scotts Miracle-Gro Company, acquiring 17,537 shares, which makes up 0.5% of its investment portfolio.
• The company recently announced a quarterly dividend of $0.66 per share, reflecting an annualized yield of 4.8%, with a significant dividend payout ratio of 347.37%.
• Analysts have mixed opinions on Scotts Miracle-Gro, with target prices ranging from $62.00 to $80.00 and a consensus rating of "Moderate Buy".

Bayforest Capital Ltd purchased a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 17,537 shares of the basic materials company's stock, valued at approximately $1,157,000. Scotts Miracle-Gro makes up 0.5% of Bayforest Capital Ltd's investment portfolio, making the stock its 18th biggest position.

Several other large investors have also recently made changes to their positions in SMG. Millennium Management LLC increased its position in shares of Scotts Miracle-Gro by 288.8% during the first quarter. Millennium Management LLC now owns 1,421,220 shares of the basic materials company's stock worth $78,011,000 after purchasing an additional 1,055,672 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Scotts Miracle-Gro by 770.3% during the first quarter. Cubist Systematic Strategies LLC now owns 334,934 shares of the basic materials company's stock worth $18,385,000 after purchasing an additional 296,448 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of Scotts Miracle-Gro by 219,313.5% during the second quarter. Sound Income Strategies LLC now owns 162,366 shares of the basic materials company's stock worth $10,710,000 after purchasing an additional 162,292 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Scotts Miracle-Gro by 2.6% during the first quarter. Vanguard Group Inc. now owns 4,645,267 shares of the basic materials company's stock worth $254,979,000 after purchasing an additional 118,729 shares in the last quarter. Finally, Citigroup Inc. increased its position in shares of Scotts Miracle-Gro by 149.5% during the first quarter. Citigroup Inc. now owns 192,437 shares of the basic materials company's stock worth $10,563,000 after purchasing an additional 115,308 shares in the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mark J. Scheiwer bought 1,790 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average price of $61.32 per share, with a total value of $109,762.80. Following the purchase, the executive vice president owned 10,130 shares in the company, valued at approximately $621,171.60. The trade was a 21.46% increase in their ownership of the stock. The transaction 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 stock in a transaction dated 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 in the company, valued at approximately $826,721,784.72. The trade was a 0.52% decrease in their position. The disclosure for this sale can be found here. 25.37% of the stock is currently owned by corporate insiders.

Scotts Miracle-Gro Trading Down 0.1%

NYSE SMG opened at $55.45 on Tuesday. The stock has a market cap of $3.20 billion, a PE ratio of 72.96 and a beta of 1.96. The Scotts Miracle-Gro Company has a twelve month low of $45.61 and a twelve month high of $93.90. The stock has a fifty day simple moving average of $59.95 and a 200-day simple moving average of $60.12.

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

Scotts Miracle-Gro Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors 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 yield of 4.8%. Scotts Miracle-Gro's dividend payout ratio is presently 347.37%.

Analysts Set New Price Targets

Several brokerages recently commented on SMG. Jefferies Financial Group set a $71.00 price target on Scotts Miracle-Gro in a research report on Friday, September 26th. Stifel Nicolaus dropped their target price on Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating for the company in a report on Monday, August 4th. UBS Group dropped their target price on Scotts Miracle-Gro from $68.00 to $62.00 and set a "neutral" rating for the company in a report on Thursday, October 2nd. Truist Financial set a $80.00 target price on Scotts Miracle-Gro and gave the company a "buy" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company dropped their target price on Scotts Miracle-Gro from $75.00 to $67.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.17.

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.

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