4,348 Shares in The Scotts Miracle-Gro Company $SMG Purchased by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC acquired a new stake in The Scotts Miracle-Gro Company, purchasing 4,348 shares valued at approximately $287,000 in the 2nd quarter.
• Analysts have varied ratings for the stock, with Zacks Research upgrading it to a "strong-buy" rating and the average price target set at $71.17.
• Scotts Miracle-Gro recently declared a quarterly dividend of $0.66 per share, resulting in an annualized dividend yield of 4.5% amidst a high payout ratio of 347.37%.

Pallas Capital Advisors LLC bought a new position in shares of The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 4,348 shares of the basic materials company's stock, valued at approximately $287,000.

Several other hedge funds have also recently bought and sold shares of SMG. Millennium Management LLC raised its holdings in Scotts Miracle-Gro by 288.8% during the 1st quarter. Millennium Management LLC now owns 1,421,220 shares of the basic materials company's stock worth $78,011,000 after buying an additional 1,055,672 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of Scotts Miracle-Gro by 770.3% in the first quarter. Cubist Systematic Strategies LLC now owns 334,934 shares of the basic materials company's stock valued at $18,385,000 after purchasing an additional 296,448 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 valued at $254,979,000 after purchasing an additional 118,729 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Scotts Miracle-Gro by 149.5% in the first quarter. Citigroup Inc. now owns 192,437 shares of the basic materials company's stock valued at $10,563,000 after purchasing an additional 115,308 shares during the last quarter. Finally, Woodline Partners LP raised its holdings in shares of Scotts Miracle-Gro by 174.2% in the first quarter. Woodline Partners LP now owns 170,628 shares of the basic materials company's stock valued at $9,366,000 after purchasing an additional 108,408 shares during the last quarter. 74.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Scotts Miracle-Gro

In related news, Director Hagedorn Partnership, L.P. sold 56,633 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $63.02, for a total transaction of $3,569,011.66. Following the completion of the sale, the director owned 13,217,641 shares of the company's stock, valued at $832,975,735.82. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark J. Scheiwer acquired 1,790 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were purchased at an average cost of $61.32 per share, with a total value of $109,762.80. Following the transaction, the executive vice president directly owned 10,130 shares of the company's stock, valued at $621,171.60. This trade represents a 21.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 25.37% of the company's stock.

Scotts Miracle-Gro Price Performance

SMG stock traded up $0.46 during midday trading on Monday, reaching $58.51. 697,348 shares of the company were exchanged, compared to its average volume of 632,126. The business has a 50-day moving average price of $62.77 and a two-hundred day moving average price of $60.34. The Scotts Miracle-Gro Company has a one year low of $45.61 and a one year high of $93.90. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 76.99 and a beta of 1.98.

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 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 for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the company posted $2.31 earnings per share. Scotts Miracle-Gro'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, analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 22nd were issued a $0.66 dividend. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $2.64 dividend on an annualized basis and a yield of 4.5%. Scotts Miracle-Gro's payout ratio is currently 347.37%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SMG shares. Wall Street Zen upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Zacks Research upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Wells Fargo & Company lifted their price objective on shares of 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 target price on shares of Scotts Miracle-Gro and gave the stock a "neutral" rating in a report on Thursday, July 31st. Finally, Truist Financial set a $80.00 target price on shares of Scotts Miracle-Gro and gave the stock a "buy" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Scotts Miracle-Gro has a consensus rating of "Moderate Buy" and an average price target of $71.17.

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.