Greatmark Investment Partners Inc. Grows Holdings in The Scotts Miracle-Gro Company $SMG

Key Points

• Greatmark Investment Partners Inc. increased its stake in The Scotts Miracle-Gro Company by 33.3% in Q2, acquiring an additional 8,100 shares, bringing its total to 32,460 shares valued at approximately $2.14 million.
• Multiple institutional investors, including GAMMA Investing LLC and International Assets Investment Management LLC, have also increased their holdings in Scotts Miracle-Gro, reflecting growing institutional interest.
• The company recently set its FY 2025 guidance at an EPS target of $3.500, alongside reporting a negative return on equity of 60.46% and a quarterly revenue of $1.19 billion, indicating challenges despite beating EPS estimates.

Greatmark Investment Partners Inc. grew its stake in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 33.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,460 shares of the basic materials company's stock after purchasing an additional 8,100 shares during the quarter. Greatmark Investment Partners Inc. owned approximately 0.06% of Scotts Miracle-Gro worth $2,141,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of Scotts Miracle-Gro by 31.6% in the first quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company's stock valued at $89,000 after acquiring an additional 388 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Scotts Miracle-Gro by 0.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 74,483 shares of the basic materials company's stock worth $4,088,000 after purchasing an additional 500 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Scotts Miracle-Gro by 3.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 52,246 shares of the basic materials company's stock valued at $2,868,000 after buying an additional 1,948 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Scotts Miracle-Gro by 21.9% in the first quarter. Oppenheimer & Co. Inc. now owns 3,819 shares of the basic materials company's stock worth $210,000 after purchasing an additional 685 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Scotts Miracle-Gro by 93.7% during the 1st quarter. International Assets Investment Management LLC now owns 6,704 shares of the basic materials company's stock worth $368,000 after buying an additional 3,243 shares during the last quarter. Hedge funds and other institutional investors own 74.07% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on SMG. UBS Group dropped their price target on shares of Scotts Miracle-Gro from $68.00 to $62.00 and set a "neutral" rating on the stock in a research 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 research report on Monday, July 14th. Wall Street Zen upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. 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. Finally, Jefferies Financial Group set a $71.00 target price on shares of Scotts Miracle-Gro in a report on Friday, September 26th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $69.17.

Insider Buying and Selling

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark J. Scheiwer bought 1,790 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was 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 of the company's stock, valued at approximately $621,171.60. This trade represents a 21.46% increase in their position. The disclosure for this purchase can be found here. Company insiders own 25.37% of the company's stock.

Scotts Miracle-Gro Price Performance

Scotts Miracle-Gro stock opened at $54.88 on Wednesday. The stock's fifty day moving average is $59.31 and its two-hundred day moving average is $60.10. The stock has a market cap of $3.17 billion, a PE ratio of 72.21 and a beta of 1.96. 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 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the company earned $2.31 EPS. The business's quarterly revenue was down 1.2% on a year-over-year basis. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. On average, research analysts expect that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, August 22nd. Scotts Miracle-Gro's dividend payout ratio is presently 347.37%.

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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