PDT Partners LLC Lowers Stake in The Scotts Miracle-Gro Company $SMG

Key Points

• PDT Partners LLC reduced its stake in The Scotts Miracle-Gro Company by 11.4%, selling 5,201 shares to hold a total of 40,503 shares valued at $2,223,000.
• The company reported earnings per share (EPS) of $2.59 for the last quarter, exceeding analysts' expectations of $2.19, although its revenue decreased by 1.2% year-over-year.
• Scotts Miracle-Gro declared a quarterly dividend of $0.66 per share, representing a 4.4% annualized yield, with a significant dividend payout ratio of 347.37%.

PDT Partners LLC lowered its position in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 11.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,503 shares of the basic materials company's stock after selling 5,201 shares during the period. PDT Partners LLC owned approximately 0.07% of Scotts Miracle-Gro worth $2,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new stake in Scotts Miracle-Gro during the 4th quarter valued at about $53,453,000. Cubist Systematic Strategies LLC raised its stake in shares of Scotts Miracle-Gro by 770.3% during 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 acquiring an additional 296,448 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of 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 valued at $41,689,000 after purchasing an additional 264,369 shares during the period. Millennium Management LLC grew its stake 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Scotts Miracle-Gro by 553.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 189,198 shares of the basic materials company's stock worth $12,549,000 after purchasing an additional 160,225 shares in the last quarter. Institutional investors own 74.07% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on SMG shares. Stifel Nicolaus reduced their price target on shares of Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating for the company in a report on Monday, August 4th. Zacks Research upgraded shares of Scotts Miracle-Gro from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Wall Street Zen lowered shares of Scotts Miracle-Gro from a "buy" rating to a "hold" rating in a research note on Friday. Wells Fargo & Company raised their price objective on shares of Scotts Miracle-Gro from $72.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Finally, UBS Group set a $68.00 price target on shares of Scotts Miracle-Gro and gave the stock a "neutral" rating in a report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $71.17.

Scotts Miracle-Gro Stock Performance

Shares of Scotts Miracle-Gro stock traded up $0.41 on Friday, reaching $63.08. The company had a trading volume of 899,147 shares, compared to its average volume of 701,493. The firm has a market cap of $3.64 billion, a PE ratio of 82.99 and a beta of 1.98. The firm's 50 day moving average price is $64.58 and its two-hundred day moving average price is $60.34. The Scotts Miracle-Gro Company has a 52-week low of $45.61 and a 52-week high of $93.90.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.23 billion. Scotts Miracle-Gro had a net margin of 1.54% and a negative return on equity of 60.46%. The business's quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.31 earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. As a group, sell-side analysts predict 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 paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Friday, August 22nd. Scotts Miracle-Gro's dividend payout ratio (DPR) is presently 347.37%.

Insider Activity

In related news, EVP Mark J. Scheiwer acquired 1,790 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The stock was acquired at an average price of $61.32 per share, for a total transaction of $109,762.80. Following the purchase, the executive vice president owned 10,130 shares of the company's stock, valued at $621,171.60. This represents a 21.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hagedorn Partnership, L.P. sold 70,000 shares of the business's 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 transaction, the director owned 13,274,274 shares of the company's stock, valued at $826,721,784.72. This trade represents a 0.52% decrease in their position. The disclosure for this sale can be found here. 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.