Cubist Systematic Strategies LLC Purchases 296,448 Shares of The Scotts Miracle-Gro Company $SMG

Key Points

• Cubist Systematic Strategies LLC increased its stake in The Scotts Miracle-Gro Company by 770.3% in Q1, owning 334,934 shares worth approximately $18.4 million after purchasing an additional 296,448 shares.
• The Scotts Miracle-Gro Company announced a quarterly dividend of $0.66, representing an annualized yield of 4.3%, but has a high dividend payout ratio of 347.37%.
• Scotts Miracle-Gro's stock performance includes a 12-month low of $45.61 and a high of $93.90, with the current market cap at $3.54 billion and a PE ratio of 80.56.

Cubist Systematic Strategies LLC increased its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 770.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 334,934 shares of the basic materials company's stock after purchasing an additional 296,448 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.58% of Scotts Miracle-Gro worth $18,385,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Scotts Miracle-Gro by 2.6% in 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 during the period. Point72 Asset Management L.P. bought a new position in Scotts Miracle-Gro in the fourth quarter worth $53,453,000. Jacobs Levy Equity Management Inc. lifted its position in Scotts Miracle-Gro by 72.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 628,414 shares of the basic materials company's stock worth $41,689,000 after purchasing an additional 264,369 shares during the period. Alyeska Investment Group L.P. bought a new position in Scotts Miracle-Gro in the fourth quarter worth $39,434,000. Finally, Millennium Management LLC lifted its position in Scotts Miracle-Gro by 87.9% in the fourth quarter. Millennium Management LLC now owns 365,548 shares of the basic materials company's stock worth $24,250,000 after purchasing an additional 171,034 shares during the period. 74.07% of the stock is owned by institutional investors.

Scotts Miracle-Gro Stock Performance

Shares of NYSE:SMG opened at $61.23 on Monday. The Scotts Miracle-Gro Company has a twelve month low of $45.61 and a twelve month high of $93.90. The firm has a market cap of $3.54 billion, a PE ratio of 80.56 and a beta of 1.98. The business has a fifty day moving average of $64.88 and a 200-day moving average of $60.44.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, beating 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 company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company posted $2.31 earnings per share. The firm's quarterly 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, analysts anticipate that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 22nd will be paid a $0.66 dividend. The ex-dividend date 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 347.37%.

Wall Street Analyst Weigh In

SMG has been the subject of a number of analyst reports. Truist Financial set a $80.00 price objective on Scotts Miracle-Gro and gave the company a "buy" rating in a report on Monday, July 14th. Wells Fargo & Company lifted their price objective on Scotts Miracle-Gro from $72.00 to $75.00 and gave the company an "overweight" rating in a report 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 report on Thursday, July 31st. Zacks Research raised Scotts Miracle-Gro from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Finally, Stifel Nicolaus cut their price objective 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. One 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 stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $71.17.

Insider Buying and Selling at Scotts Miracle-Gro

In other news, 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 completion of the sale, the director directly owned 13,274,274 shares in the company, valued at approximately $826,721,784.72. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 25.37% of the company's stock.

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.

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