Citigroup Inc. Acquires 115,308 Shares of The Scotts Miracle-Gro Company $SMG

Key Points

• Citigroup Inc. has increased its holdings in The Scotts Miracle-Gro Company by 149.5%, acquiring 115,308 shares and bringing its total ownership to 192,437 shares valued at approximately $10.56 million.
• Scotts Miracle-Gro recently announced a quarterly dividend of $0.66 per share, with a dividend yield of 4.2% and a payout ratio of 347.37%.
• Equities analysts have mixed opinions, with two rating the stock as a hold and five recommending a buy, resulting in a consensus rating of "Moderate Buy" with an average price target of $71.17.

Citigroup Inc. lifted its stake in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 149.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,437 shares of the basic materials company's stock after purchasing an additional 115,308 shares during the period. Citigroup Inc. owned 0.33% of Scotts Miracle-Gro worth $10,563,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SMG. Spire Wealth Management increased its stake in shares of Scotts Miracle-Gro by 477.9% in the 1st quarter. Spire Wealth Management now owns 549 shares of the basic materials company's stock worth $30,000 after purchasing an additional 454 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Scotts Miracle-Gro by 479.4% in the 1st quarter. UMB Bank n.a. now owns 562 shares of the basic materials company's stock worth $31,000 after purchasing an additional 465 shares in the last quarter. Avalon Trust Co purchased a new stake in shares of Scotts Miracle-Gro in the 1st quarter worth $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Scotts Miracle-Gro in the 4th quarter worth $73,000. Finally, GAMMA Investing LLC increased its stake in shares of Scotts Miracle-Gro by 31.6% in the 1st quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company's stock worth $89,000 after purchasing an additional 388 shares in the last quarter. 74.07% of the stock is currently owned by hedge funds and other institutional investors.

Scotts Miracle-Gro Stock Performance

Shares of SMG traded down $0.69 during midday trading on Wednesday, hitting $61.43. 257,182 shares of the company traded hands, compared to its average volume of 1,061,163. The firm has a 50 day moving average of $64.90 and a 200-day moving average of $60.82. The Scotts Miracle-Gro Company has a 52 week low of $45.61 and a 52 week high of $93.90. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 80.86 and a beta of 1.97.

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 EPS for the quarter, beating the consensus estimate of $2.19 by $0.40. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the firm earned $2.31 EPS. The business's revenue was down 1.2% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. Sell-side analysts predict that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Friday, August 22nd will be issued a $0.66 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.3%. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently 347.37%.

Insider Activity at Scotts Miracle-Gro

In related news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $62.28, for a total value of $4,359,600.00. Following the completion of the transaction, the director owned 13,274,274 shares of the company's stock, valued at approximately $826,721,784.72. This trade represents a 0.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 25.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SMG. JPMorgan Chase & Co. reduced their price objective on Scotts Miracle-Gro from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. UBS Group set a $68.00 price objective on Scotts Miracle-Gro and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Wells Fargo & Company increased their price target on Scotts Miracle-Gro from $72.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Wall Street Zen upgraded Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Stifel Nicolaus cut their price target on Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating for the company in a research note on Monday, August 4th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $71.17.

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.