The Scotts Miracle-Gro Company $SMG Shares Acquired by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC significantly increased its stake in Scotts Miracle-Gro by 1,007.1% during the first quarter, now owning approximately 0.09% of the company worth $2.7 million.
• Scotts Miracle-Gro recently reported earnings of $2.59 per share, exceeding estimates, despite a 1.2% decline in revenue from the prior year.
• The company announced a quarterly dividend of $0.66, with a yield of 4.2% and a high dividend payout ratio of 347.37%.

Hsbc Holdings PLC grew its stake in The Scotts Miracle-Gro Company (NYSE:SMG - Free Report) by 1,007.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,444 shares of the basic materials company's stock after purchasing an additional 44,978 shares during the period. Hsbc Holdings PLC owned approximately 0.09% of Scotts Miracle-Gro worth $2,702,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Moors & Cabot Inc. increased its holdings in shares of Scotts Miracle-Gro by 3.1% in the first quarter. Moors & Cabot Inc. now owns 6,415 shares of the basic materials company's stock valued at $352,000 after purchasing an additional 191 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Scotts Miracle-Gro by 2.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 8,826 shares of the basic materials company's stock valued at $484,000 after purchasing an additional 200 shares during the period. State of Michigan Retirement System increased its holdings in shares of Scotts Miracle-Gro by 2.0% in the first quarter. State of Michigan Retirement System now owns 10,300 shares of the basic materials company's stock valued at $565,000 after purchasing an additional 200 shares during the period. Sagespring Wealth Partners LLC increased its holdings in shares of Scotts Miracle-Gro by 4.8% in the first quarter. Sagespring Wealth Partners LLC now owns 4,524 shares of the basic materials company's stock valued at $248,000 after purchasing an additional 207 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Scotts Miracle-Gro by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the basic materials company's stock valued at $664,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 74.07% of the company's stock.

Scotts Miracle-Gro Stock Performance

Scotts Miracle-Gro stock opened at $62.29 on Wednesday. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 81.96 and a beta of 1.97. 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 fifty day moving average is $64.86 and its two-hundred day moving average is $60.59.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its earnings results on Wednesday, July 30th. The basic materials company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.40. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.23 billion. Scotts Miracle-Gro had a negative return on equity of 60.46% and a net margin of 1.54%.Scotts Miracle-Gro's revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 earnings per share. Scotts Miracle-Gro has set its FY 2025 guidance at 3.500- EPS. As a group, sell-side analysts forecast that The Scotts Miracle-Gro Company will post 3.42 EPS for the current fiscal year.

Scotts Miracle-Gro Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be issued a $0.66 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $2.64 annualized dividend and a yield of 4.2%. Scotts Miracle-Gro's dividend payout ratio is 347.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Zacks Research raised Scotts Miracle-Gro from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Wall Street Zen raised Scotts Miracle-Gro from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. UBS Group set a $68.00 price objective on Scotts Miracle-Gro and gave the stock a "neutral" rating in a report on Thursday, July 31st. Stifel Nicolaus dropped their price objective on Scotts Miracle-Gro from $71.00 to $70.00 and set a "hold" rating on the stock in a report on Monday, August 4th. Finally, Truist Financial set a $80.00 price objective on 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 given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $71.17.

Insiders Place Their Bets

In other Scotts Miracle-Gro news, Director Hagedorn Partnership, L.P. sold 70,000 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $62.28, for a total value of $4,359,600.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 25.37% of the company's stock.

Scotts Miracle-Gro Company 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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