Cwm LLC Boosts Holdings in The Scotts Miracle-Gro Company $SMG

Key Points

• Cwm LLC increased its position in The Scotts Miracle-Gro Company by 382.7% in Q2, holding 17,121 shares valued at approximately $1.13 million.
• The company recently announced a quarterly dividend of $0.66 per share, representing an annualized dividend yield of 4.8%.
• Equities analysts have mixed views, with a current consensus rating of "Moderate Buy" and a target price around $69.17.

Cwm LLC lifted its position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 382.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 17,121 shares of the basic materials company's stock after purchasing an additional 13,574 shares during the quarter. Cwm LLC's holdings in Scotts Miracle-Gro were worth $1,129,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American National Bank & Trust acquired a new position in Scotts Miracle-Gro during the 2nd quarter worth approximately $28,000. Spire Wealth Management raised its position 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 valued at $30,000 after purchasing an additional 454 shares in the last quarter. Byrne Asset Management LLC acquired a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at approximately $45,000. Avalon Trust Co acquired a new position in shares of Scotts Miracle-Gro in the 1st quarter valued at approximately $41,000. Finally, Hilltop National Bank acquired a new position in shares of Scotts Miracle-Gro in the 2nd quarter valued at approximately $66,000. 74.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SMG shares. Wells Fargo & Company cut their target price on Scotts Miracle-Gro from $75.00 to $67.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Weiss Ratings reissued a "hold (c-)" rating on shares of Scotts Miracle-Gro in a research note on Wednesday, October 8th. Truist Financial set a $80.00 price target on Scotts Miracle-Gro and gave the stock a "buy" rating in a research note on Monday, July 14th. Zacks Research cut Scotts Miracle-Gro from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Finally, UBS Group decreased their target price on Scotts Miracle-Gro from $68.00 to $62.00 and set a "neutral" rating for the company in a research note on Thursday, October 2nd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.17.

Scotts Miracle-Gro Price Performance

Shares of SMG stock opened at $54.88 on Wednesday. The Scotts Miracle-Gro Company has a fifty-two week low of $45.61 and a fifty-two week high of $93.90. The stock's 50-day moving average is $59.31 and its two-hundred day moving average is $60.10. The firm has a market cap of $3.17 billion, a P/E ratio of 72.21 and a beta of 1.96.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last issued its earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the prior year, the firm posted $2.31 EPS. The business'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. As a group, research analysts expect that The Scotts Miracle-Gro Company will post 3.42 EPS for the current year.

Scotts Miracle-Gro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders 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 4.8%. Scotts Miracle-Gro's dividend payout ratio is currently 347.37%.

Insider Transactions at Scotts Miracle-Gro

In other news, 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 transaction of $4,359,600.00. Following the transaction, the director 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark J. Scheiwer acquired 1,790 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were bought at an average cost of $61.32 per share, for a total transaction of $109,762.80. Following the acquisition, the executive vice president owned 10,130 shares in the company, valued at $621,171.60. The trade was a 21.46% increase in their position. The disclosure for this purchase can be found here. Corporate 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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