Parthenon LLC Has $2.14 Million Stake in The Scotts Miracle-Gro Company $SMG

Key Points

• Parthenon LLC reduced its stake in The Scotts Miracle-Gro Company by 15.7%, now holding $2.14 million worth of shares after selling 6,015 shares in the 2nd quarter.
• Scotts Miracle-Gro recently announced a quarterly dividend of $0.66 per share, resulting in an annualized yield of 4.9%, although the dividend payout ratio is significantly high at 347.37%.
• Analysts have mixed ratings for Scotts Miracle-Gro, with a consensus "Moderate Buy" rating and an average price target of $69.17 amid varied target price adjustments by several research firms.

Parthenon LLC decreased its holdings in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 15.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,405 shares of the basic materials company's stock after selling 6,015 shares during the quarter. Parthenon LLC owned 0.06% of Scotts Miracle-Gro worth $2,137,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American National Bank & Trust acquired a new stake in Scotts Miracle-Gro in the 2nd quarter worth about $28,000. Spire Wealth Management increased its holdings in 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 buying an additional 454 shares during the period. Avalon Trust Co bought a new position in Scotts Miracle-Gro in the 1st quarter valued at about $41,000. Byrne Asset Management LLC bought a new position in Scotts Miracle-Gro in the 2nd quarter valued at about $45,000. Finally, Hilltop National Bank bought a new position in Scotts Miracle-Gro in the 2nd quarter valued at about $66,000. Institutional investors and hedge funds own 74.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SMG. Truist Financial set a $80.00 target price on shares of Scotts Miracle-Gro and gave the company a "buy" rating in a report on Monday, July 14th. Jefferies Financial Group set a $71.00 target price on shares of Scotts Miracle-Gro in a report on Friday, September 26th. Stifel Nicolaus decreased their target price on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating on the stock in a report on Monday, August 4th. Wells Fargo & Company decreased their target price on shares of Scotts Miracle-Gro from $75.00 to $67.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Finally, UBS Group decreased their target price on shares of Scotts Miracle-Gro from $68.00 to $62.00 and set a "neutral" rating on the stock in a report on Thursday, October 2nd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $69.17.

Insider Activity at Scotts Miracle-Gro

In other Scotts Miracle-Gro news, EVP Mark J. Scheiwer bought 1,790 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were acquired at an average cost of $61.32 per share, for a total transaction of $109,762.80. Following the transaction, the executive vice president directly owned 10,130 shares in the company, valued at approximately $621,171.60. This represents a 21.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 56,633 shares of Scotts Miracle-Gro stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $63.02, for a total transaction of $3,569,011.66. Following the sale, the director owned 13,217,641 shares in the company, valued at approximately $832,975,735.82. This represents a 0.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.37% of the stock is owned by company insiders.

Scotts Miracle-Gro Trading Up 0.6%

Shares of Scotts Miracle-Gro stock opened at $54.26 on Friday. The firm's 50 day moving average is $59.53 and its 200 day moving average is $60.07. The Scotts Miracle-Gro Company has a 1 year low of $45.61 and a 1 year high of $93.90. The firm has a market capitalization of $3.13 billion, a PE ratio of 71.40 and a beta of 1.96.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The basic materials company reported $2.59 EPS for the quarter, topping 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 last year, the company earned $2.31 EPS. The firm'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 anticipate that The Scotts Miracle-Gro Company will post 3.42 earnings per share for the current year.

Scotts Miracle-Gro Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 22nd were given a dividend of $0.66 per share. The ex-dividend date was Friday, August 22nd. This represents a $2.64 annualized dividend and a yield of 4.9%. Scotts Miracle-Gro's dividend payout ratio (DPR) is currently 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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